Caisse DE Depot ET Placement DU Quebec Sells 638,006 Shares of Schlumberger Limited $SLB

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Schlumberger Limited by 51.6%, selling 638,006 shares and bringing its total holdings to 598,830 shares valued at approximately $25 million.
• Several large investors increased their positions in Schlumberger, including Nuveen LLC, which acquired $169 million worth of shares, demonstrating ongoing interest in the company's stock despite institutional adjustments.
• Schlumberger reported $0.74 EPS for the latest quarter, exceeding expectations, though its revenue declined 6.5% year-over-year; the company also announced a $0.285 quarterly dividend with a yield of 3.2%.

Caisse DE Depot ET Placement DU Quebec lowered its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 51.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 598,830 shares of the oil and gas company's stock after selling 638,006 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Schlumberger were worth $25,031,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in Schlumberger in the 1st quarter worth $169,232,000. Scharf Investments LLC increased its stake in 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 purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC increased its stake in Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new stake in Schlumberger during the 1st quarter valued at about $308,000. Finally, Stratos Investment Management LLC increased its stake in Schlumberger by 236.0% during the 1st 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. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

NYSE SLB traded up $0.40 on Friday, reaching $36.88. 11,882,956 shares of the stock were exchanged, compared to its average volume of 12,249,297. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The firm has a market capitalization of $49.83 billion, a PE ratio of 12.63, a PEG ratio of 10.12 and a beta of 1.03. The company's 50-day simple moving average is $34.53 and its two-hundred day simple moving average is $36.20. 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 released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. Analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.1%. Schlumberger's dividend payout ratio is currently 39.04%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SLB shares. Morgan Stanley dropped their price target 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. Jefferies Financial Group dropped their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Susquehanna dropped their price objective 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. Finally, Stifel Nicolaus dropped their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently 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.