DLD Asset Management LP Takes $1.53 Million Position in Schlumberger Limited $SLB

Key Points

• DLD Asset Management LP invested approximately $1.53 million in Schlumberger Limited, acquiring 36,604 shares during the first quarter of the year.
• Schlumberger reported $0.74 EPS for the last quarter, surpassing analysts' expectations of $0.73 per share, despite a 6.5% year-over-year decrease in revenue.
• The company announced a quarterly dividend of $0.285, equating to an annual yield of 3.4%, with the payment scheduled for October 9th.

DLD Asset Management LP acquired a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 36,604 shares of the oil and gas company's stock, valued at approximately $1,530,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. T. Rowe Price Investment Management Inc. boosted its position in shares of Schlumberger by 35.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 173,857 shares of the oil and gas company's stock worth $7,268,000 after acquiring an additional 45,036 shares in the last quarter. Capital Analysts LLC lifted its stake in Schlumberger by 14.9% during the first quarter. Capital Analysts LLC now owns 7,124 shares of the oil and gas company's stock worth $298,000 after purchasing an additional 924 shares during the last quarter. Tradition Wealth Management LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at $210,000. Erste Asset Management GmbH increased its stake in shares of Schlumberger by 10.0% in the 1st quarter. Erste Asset Management GmbH now owns 47,232 shares of the oil and gas company's stock valued at $1,978,000 after purchasing an additional 4,275 shares during the last quarter. Finally, EntryPoint Capital LLC increased its stake in shares of Schlumberger by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock valued at $307,000 after purchasing an additional 316 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. 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 note on Monday, June 30th. Jefferies Financial Group decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Stifel Nicolaus dropped their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Melius Research initiated coverage on Schlumberger in a research report on Wednesday. They set a "buy" rating and a $82.00 price objective on the stock. Finally, Melius assumed coverage on Schlumberger in a research report on Wednesday. They issued a "buy" rating and a $82.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Trading Up 5.2%

Schlumberger stock traded up $1.7650 during trading hours on Friday, reaching $35.5750. 16,023,117 shares of the company's stock were exchanged, compared to its average volume of 12,135,544. The firm's 50 day simple moving average is $34.51 and its 200 day simple moving average is $36.36. Schlumberger Limited has a twelve month low of $31.11 and a twelve month 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. The firm has a market capitalization of $48.07 billion, a PE ratio of 12.18, a PEG ratio of 9.38 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

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