Cambiar Investors LLC Acquires 138,011 Shares of Schlumberger Limited $SLB

Key Points

• Cambiar Investors LLC increased its stake in Schlumberger Limited by 61.6% during the 1st quarter, owning 362,030 shares valued at approximately $15.1 million.
• Schlumberger announced a quarterly dividend of $0.285 per share, which will be paid on October 9th, resulting in an annualized yield of 3.5%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Schlumberger, with a target price averaging $49.28, despite some recent downgrades from firms like Morgan Stanley and Piper Sandler.

Cambiar Investors LLC grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 61.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362,030 shares of the oil and gas company's stock after acquiring an additional 138,011 shares during the period. Cambiar Investors LLC's holdings in Schlumberger were worth $15,133,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vident Advisory LLC raised its holdings in Schlumberger by 1.0% in the 4th 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 period. Glen Eagle Advisors LLC grew its position in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 282 shares in the last quarter. Heritage Wealth Management Inc. Texas grew its position in shares of Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 318 shares in the last quarter. Wahed Invest LLC grew its position in shares of Schlumberger by 0.9% during the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock worth $1,343,000 after purchasing an additional 319 shares in the last quarter. Finally, Horizon Investments LLC grew its position in shares of Schlumberger by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after purchasing an additional 330 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Melius Research initiated coverage on shares of Schlumberger in a research report on Wednesday. They set a "buy" rating and a $82.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. UBS Group reduced their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday. Susquehanna reduced their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.86.

Schlumberger Price Performance

Shares of NYSE SLB traded up $1.5340 during midday trading on Friday, reaching $35.3440. 7,300,543 shares of the company were exchanged, compared to its average volume of 16,185,829. The stock's 50-day moving average price is $34.53 and its 200-day moving average price is $36.40. The stock has a market cap of $47.76 billion, a P/E ratio of 12.10, a PEG ratio of 9.26 and a beta of 1.03. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.16. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last posted its 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 firm 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 company's 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, sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is presently 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.