Ariel Investments LLC Buys 975,223 Shares of Schlumberger Limited $SLB

Key Points

• Ariel Investments LLC significantly increased its stake in Schlumberger Limited by 5,096.5%, acquiring 975,223 shares to reach a total of 994,358 shares valued at approximately $41.56 million.
• The company announced a quarterly dividend of $0.285 per share, representing a 3.2% dividend yield, with an ex-dividend date set for September 3rd.
• Analysts have a consensus rating of "Moderate Buy" for Schlumberger, with a target price of $52.86, as numerous firms have adjusted their ratings following recent performance reviews.

Ariel Investments LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5,096.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 994,358 shares of the oil and gas company's stock after acquiring an additional 975,223 shares during the period. Ariel Investments LLC owned 0.07% of Schlumberger worth $41,564,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Schlumberger by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. Boston Partners increased its holdings in shares of Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Schlumberger by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after acquiring an additional 604,832 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Schlumberger by 22.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after acquiring an additional 1,667,203 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

Shares of NYSE:SLB traded down $0.21 during trading on Friday, hitting $35.81. 13,436,375 shares of the stock were exchanged, compared to its average volume of 12,118,300. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The company has a market capitalization of $48.38 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 9.99 and a beta of 1.05. The company's fifty day simple moving average is $34.75 and its 200-day simple moving average is $35.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share 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 company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the firm earned $0.85 EPS. Schlumberger's revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Analyst Ratings Changes

A number of research analysts have recently commented on SLB shares. Melius Research began coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Barclays lowered their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Finally, Melius began coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger 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.