Schlumberger Limited (NYSE:SLB) Shares Purchased by Barings LLC

Key Points

• Barings LLC increased its holdings in Schlumberger Limited by 102.3% during the first quarter, owning a total of 127,748 shares valued at approximately $5.34 million.
• Schlumberger reported a quarterly EPS of $0.74, surpassing expectations, but noted a 6.5% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.285 per share with a yield of 3.5%, set to be paid on October 9th for shareholders of record on September 3rd.

Barings LLC grew its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 102.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,748 shares of the oil and gas company's stock after acquiring an additional 64,594 shares during the period. Barings LLC's holdings in Schlumberger were worth $5,340,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after acquiring an additional 5,225,828 shares during the last quarter. Deutsche Bank AG grew its position 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 worth $1,101,804,000 after buying an additional 3,119,543 shares in the last quarter. Northern Trust Corp grew its position in shares of Schlumberger by 9.4% during the 4th quarter. Northern Trust Corp now owns 13,817,667 shares of the oil and gas company's stock worth $529,769,000 after buying an additional 1,192,399 shares in the last quarter. Sanders Capital LLC raised its position in shares of Schlumberger by 1.9% in the 4th quarter. Sanders Capital LLC now owns 10,697,985 shares of the oil and gas company's stock worth $410,161,000 after acquiring an additional 203,766 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Schlumberger by 8.8% in the 4th quarter. Invesco Ltd. now owns 7,377,240 shares of the oil and gas company's stock worth $282,843,000 after acquiring an additional 596,008 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on SLB shares. Barclays reduced their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Wells Fargo & Company lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Morgan Stanley reduced their target price 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. Finally, Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $49.28.

Schlumberger Stock Performance

NYSE SLB traded down $0.76 during trading on Friday, reaching $33.04. The company's stock had a trading volume of 17,069,976 shares, compared to its average volume of 19,117,582. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The firm has a market cap of $44.65 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 9.17 and a beta of 1.03. 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 business's fifty day moving average price is $34.78 and its 200-day moving average price is $37.18.

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

Schlumberger Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 3.5%. The ex-dividend date 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.