DLD Asset Management LP Invests $1.53 Million in Schlumberger Limited $SLB

Key Points

• DLD Asset Management LP invested approximately $1.53 million in Schlumberger Limited by purchasing 36,604 shares during the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Schlumberger, with a target price averaging $52.86.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, yielding 3.2%, to be paid on October 9th.

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

Several other institutional investors have also modified their holdings of SLB. Brighton Jones LLC raised its holdings in shares of Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC purchased a new position in shares of Schlumberger during the 4th quarter worth $238,000. Focus Partners Wealth raised its holdings in shares of Schlumberger by 32.9% during the 4th quarter. Focus Partners Wealth now owns 148,638 shares of the oil and gas company's stock worth $5,777,000 after acquiring an additional 36,837 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Schlumberger by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,587 shares of the oil and gas company's stock worth $5,390,000 after acquiring an additional 6,597 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its holdings in Schlumberger by 20.6% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 59,839 shares of the oil and gas company's stock valued at $2,294,000 after buying an additional 10,231 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

SLB has been the topic of several research analyst reports. UBS Group reduced their price objective 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 initiated coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective on the stock. Piper Sandler reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Jefferies Financial Group reduced their price objective 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, Wells Fargo & Company lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $52.86.

Schlumberger Stock Performance

NYSE SLB opened at $36.00 on Friday. The company has a market cap of $53.77 billion, a P/E ratio of 12.33, a P/E/G ratio of 10.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a 50-day moving average of $34.82 and a two-hundred day moving average of $35.82. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15.

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

Schlumberger Dividend Announcement

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

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