APG Asset Management N.V. Trims Stock Holdings in Schlumberger Limited $SLB

Key Points

• APG Asset Management N.V. has reduced its stake in Schlumberger Limited by 25.1%, now holding 110,357 shares worth $4.27 million following the sale of 37,023 shares.
• Several analysts adjusted their ratings and target prices for Schlumberger, with most maintaining a buy rating while the average price target is set at $52.86.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, with a yield of 3.2%, and has a payout ratio of 39.04%.

APG Asset Management N.V. lowered its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 25.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 110,357 shares of the oil and gas company's stock after selling 37,023 shares during the quarter. APG Asset Management N.V.'s holdings in Schlumberger were worth $4,270,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. grew its stake in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Schlumberger in the 1st quarter valued at $33,000. Alpine Bank Wealth Management acquired a new stake in Schlumberger in the 1st quarter valued at $34,000. True Wealth Design LLC grew its stake in Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in Schlumberger during the 1st quarter worth $38,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent research reports. UBS Group lowered their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Barclays lowered their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Melius Research initiated coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $52.86.

Schlumberger Trading Up 1.1%

Shares of NYSE SLB traded up $0.40 during trading on Friday, hitting $36.88. 11,882,956 shares of the company were exchanged, compared to its average volume of 12,249,297. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The company has a fifty day moving average price of $34.53 and a 200-day moving average price of $36.20. The firm has a market capitalization of $49.83 billion, a PE ratio of 12.63, a P/E/G ratio of 10.12 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The company's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is 39.04%.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.