Banque Transatlantique SA Grows Stake in Schlumberger Limited $SLB

Key Points

• Banque Transatlantique SA significantly increased its holdings in Schlumberger Limited by 21,737.8% during Q1, owning over 1.85 million shares valued at approximately $71.8 million.
• Schlumberger's quarterly earnings beat estimates with a profit of $0.74 per share, generating revenues of $8.55 billion, despite a year-over-year decline.
• The company declared a quarterly dividend of $0.285 per share, representing a 3.2% yield, with the ex-dividend date set for September 3rd.

Banque Transatlantique SA grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 21,737.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,859,274 shares of the oil and gas company's stock after acquiring an additional 1,850,760 shares during the period. Schlumberger accounts for approximately 1.3% of Banque Transatlantique SA's investment portfolio, making the stock its 12th biggest position. Banque Transatlantique SA owned 0.14% of Schlumberger worth $71,821,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Command Advisory Services Inc. lifted its holdings in shares of Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in shares of Schlumberger during the first quarter worth $33,000. Alpine Bank Wealth Management acquired a new position in shares of Schlumberger during the first quarter worth $34,000. Park Square Financial Group LLC acquired a new position in shares of Schlumberger during the first quarter worth $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Schlumberger in the fourth quarter valued at $40,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Susquehanna dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Barclays dropped their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Morgan Stanley dropped their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Piper Sandler dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.86.

Schlumberger Stock Down 0.6%

Shares of NYSE:SLB traded down $0.21 during midday trading on Friday, hitting $35.81. 13,436,375 shares of the company's stock were exchanged, compared to its average volume of 12,118,300. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a 50 day moving average price of $34.75 and a 200-day moving average price of $35.99. The company has a market cap of $48.38 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 9.99 and a beta of 1.05. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last posted its 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 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 previous year, the firm posted $0.85 earnings per share. The firm's revenue for the quarter was down 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

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.