Ashton Thomas Securities LLC Buys 18,293 Shares of Schlumberger Limited $SLB

Key Points

• Ashton Thomas Securities LLC increased its holdings in Schlumberger Limited by 88.1% in the first quarter, now owning 39,046 shares valued at approximately $1,630,000.
• Despite a recent quarterly earnings report that topped estimates, several analysts have lowered their price targets on Schlumberger, with a consensus rating of "Moderate Buy" and a target price of $52.86.
• Schlumberger declared a quarterly dividend of $0.285 per share, resulting in an annualized dividend yield of 3.1%, confirming its commitment to returning value to shareholders.

Ashton Thomas Securities LLC boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 88.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 39,046 shares of the oil and gas company's stock after buying an additional 18,293 shares during the period. Ashton Thomas Securities LLC's holdings in Schlumberger were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of Schlumberger by 478.8% during the first 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 purchasing an additional 39,474,501 shares in the last quarter. Deutsche Bank AG grew its holdings in 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 buying an additional 3,119,543 shares in the last quarter. Boston Partners increased its stake in Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Northern Trust Corp raised 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 worth $602,860,000 after acquiring an additional 604,832 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised 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 worth $375,738,000 after acquiring an additional 1,667,203 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 2.8%

NYSE SLB traded up $0.99 during trading on Thursday, hitting $35.99. The stock had a trading volume of 12,329,353 shares, compared to its average volume of 16,168,477. 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 stock has a market capitalization of $48.64 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 10.22 and a beta of 1.05. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The stock has a 50 day simple moving average of $34.67 and a 200 day simple moving average of $36.08.

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 (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid 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 of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Analyst Ratings Changes

A number of research firms recently weighed in on SLB. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Melius began coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Jefferies Financial Group lowered their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Piper Sandler decreased their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.86.

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.