Brandywine Global Investment Management LLC Sells 53,509 Shares of Schlumberger Limited $SLB

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Schlumberger Limited by 6.0%, selling 53,509 shares and now owns a total of 837,882 shares valued at approximately $35 million.
• Schlumberger reported a quarterly earnings per share (EPS) of $0.74, exceeding estimates and detailing a revenue of $8.55 billion, though revenue was down 6.5% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.285 per share, representing an annualized yield of 3.4%, with payment scheduled for October 9th.

Brandywine Global Investment Management LLC lessened its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 837,882 shares of the oil and gas company's stock after selling 53,509 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.06% of Schlumberger worth $35,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SLB. Nuveen LLC purchased a new position in Schlumberger during the first quarter worth about $169,232,000. Scharf Investments LLC boosted its position in shares of Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after acquiring an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new position in shares of Schlumberger in the first quarter worth approximately $308,000. Finally, Stratos Investment Management LLC raised its stake in Schlumberger by 236.0% in the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after purchasing an additional 103,182 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Up 0.1%

Shares of SLB stock traded up $0.0430 during midday trading on Tuesday, reaching $33.3430. 9,330,057 shares of the stock were exchanged, compared to its average volume of 16,286,136. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.16. The firm has a market cap of $45.05 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 9.15 and a beta of 1.03. The company's 50 day moving average is $34.65 and its two-hundred day moving average is $36.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. Schlumberger's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Insider Transactions at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note 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. Jefferies Financial Group lowered their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Piper Sandler dropped their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Finally, Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.28.

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.