ASR Vermogensbeheer N.V. Invests $56.02 Million in Schlumberger Limited (NYSE:SLB)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $56.02 million in Schlumberger Limited by acquiring 1,340,206 shares, representing about 0.8% of its overall portfolio.
• Schlumberger's latest quarterly earnings exceeded analysts' expectations, reporting $0.74 EPS against a consensus estimate of $0.73, despite a 6.5% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.285, yielding 3.4%, with the payment date set for October 9th to shareholders on record from September 3rd.

ASR Vermogensbeheer N.V. bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,340,206 shares of the oil and gas company's stock, valued at approximately $56,019,000. Schlumberger comprises about 0.8% of ASR Vermogensbeheer N.V.'s portfolio, making the stock its 21st biggest position. ASR Vermogensbeheer N.V. owned 0.10% of Schlumberger as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Vident Advisory LLC increased its stake in Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after acquiring an additional 273 shares during the last quarter. Glen Eagle Advisors LLC increased its stake in Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after acquiring an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas increased its stake in Schlumberger by 2.2% in the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after acquiring an additional 318 shares during the last quarter. Wahed Invest LLC increased its stake in Schlumberger by 0.9% in the fourth quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock valued at $1,343,000 after acquiring an additional 319 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Schlumberger by 2.0% in the first quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company's stock valued at $704,000 after acquiring an additional 336 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley cut their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Jefferies Financial Group cut their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. UBS Group upped their price target on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Barclays cut their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Schlumberger has an average rating of "Moderate Buy" and a consensus price target of $49.28.

Schlumberger Price Performance

SLB stock opened at $33.50 on Wednesday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.16. The company has a market cap of $45.27 billion, a P/E ratio of 11.47, a PEG ratio of 9.12 and a beta of 1.03. The firm has a 50-day moving average of $34.76 and a 200 day moving average of $37.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Schlumberger's revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is presently 39.04%.

About Schlumberger

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.

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