Deutsche Bank AG Sells 1,472,409 Shares of Schlumberger Limited (NYSE:SLB)

Key Points

• Deutsche Bank AG reduced its holdings in Schlumberger by 5.1%, selling 1,472,409 shares and maintaining about 27 million shares valued at approximately $1.14 billion.
• Several institutional investors, including Charles Schwab Investment Management and Lazard Asset Management, significantly increased their stakes in Schlumberger during the recent quarters, indicating strong institutional interest.
• Schlumberger recently reported $0.74 EPS for the last quarter, exceeding expectations, but showed a 6.5% decline in revenue compared to the previous year.

Deutsche Bank AG lessened its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,265,294 shares of the oil and gas company's stock after selling 1,472,409 shares during the period. Deutsche Bank AG owned about 2.00% of Schlumberger worth $1,139,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Schlumberger by 478.8% during 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 purchasing an additional 39,474,501 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Schlumberger during the 1st quarter worth approximately $56,019,000. Exencial Wealth Advisors LLC boosted its position in shares of Schlumberger by 6.0% during the 1st quarter. Exencial Wealth Advisors LLC now owns 8,476 shares of the oil and gas company's stock worth $354,000 after acquiring an additional 480 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Schlumberger by 0.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 239,421 shares of the oil and gas company's stock worth $10,008,000 after acquiring an additional 1,449 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its position in shares of Schlumberger by 47.5% during the 1st quarter. iA Global Asset Management Inc. now owns 99,971 shares of the oil and gas company's stock worth $4,179,000 after acquiring an additional 32,198 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of 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 reduced their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Morgan Stanley reduced their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. 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. Finally, UBS Group raised their target price on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.28.

Schlumberger Stock Up 0.3%

SLB traded up $0.11 during midday trading on Friday, hitting $32.90. The company had a trading volume of 10,215,438 shares, compared to its average volume of 19,141,180. The company has a market capitalization of $44.46 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 9.10 and a beta of 1.03. The stock's 50 day moving average price is $34.72 and its 200 day moving average price is $36.91. Schlumberger Limited has a 52 week low of $31.11 and a 52 week 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 released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping 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 business had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.5%. Schlumberger's payout ratio is 39.04%.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company's stock.

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.