Schlumberger Limited $SLB Shares Bought by Canada Pension Plan Investment Board

Key Points

• The **Canada Pension Plan Investment Board** increased its stake in **Schlumberger Limited** by **57.7%**, acquiring **637,455 additional shares** during the first quarter, bringing its total ownership to approximately **1.74 million shares** valued at **$72.8 million**.
• Schlumberger's recent earnings report showed earnings per share of **$0.74**, beating expectations, but revenue declined by **6.5%** year-over-year to **$8.55 billion**.
• The company declared a quarterly dividend of **$0.285**, resulting in an annualized yield of **3.1%**, with the payment scheduled for **October 9th**.

Canada Pension Plan Investment Board grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 57.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,741,292 shares of the oil and gas company's stock after acquiring an additional 637,455 shares during the quarter. Canada Pension Plan Investment Board owned about 0.13% of Schlumberger worth $72,786,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in Schlumberger by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after buying an additional 39,474,501 shares during the period. Deutsche Bank AG increased its stake in Schlumberger by 12.2% in 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 during the period. Boston Partners increased its stake in Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after buying an additional 4,300,222 shares during the period. Northern Trust Corp increased its stake in Schlumberger by 4.4% in the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock worth $602,860,000 after buying an additional 604,832 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Schlumberger by 22.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock worth $375,738,000 after buying an additional 1,667,203 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented 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 note on Wednesday, July 16th. UBS Group dropped their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Melius assumed coverage on shares of Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. Jefferies Financial Group dropped their target price 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. Finally, Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.86.

Schlumberger Stock Down 1.7%

Shares of NYSE:SLB traded down $0.60 during trading on Wednesday, reaching $35.02. The stock had a trading volume of 8,046,276 shares, compared to its average volume of 16,131,506. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The company has a market capitalization of $47.33 billion, a P/E ratio of 11.99, a PEG ratio of 10.22 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The firm's 50-day simple moving average is $34.64 and its 200 day simple moving average is $36.08.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same period last year, the business earned $0.85 EPS. The company's revenue was down 6.5% compared to the same quarter last year. As a group, research 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 paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

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.