Encompass Capital Advisors LLC Has $23.04 Million Position in Schlumberger Limited $SLB

Key Points

• Encompass Capital Advisors LLC significantly reduced its stake in Schlumberger Limited by 50.1%, bringing their holdings down to 551,153 shares, valued at approximately $23 million.
• Several institutional investors have increased their stakes in Schlumberger, with Charles Schwab Investment Management boosting theirs by 478.8% during the first quarter, now owning nearly 47.7 million shares.
• Schlumberger announced a quarterly dividend of $0.285 per share, with a dividend yield of 3.3%, and plans to pay on October 9th to stockholders of record on September 3rd.

Encompass Capital Advisors LLC trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 50.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,153 shares of the oil and gas company's stock after selling 553,887 shares during the quarter. Encompass Capital Advisors LLC's holdings in Schlumberger were worth $23,038,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. First Command Advisory Services Inc. lifted its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. bought a new position in Schlumberger in the 1st quarter valued at about $33,000. Alpine Bank Wealth Management bought a new position in Schlumberger in the 1st quarter valued at about $34,000. Park Square Financial Group LLC bought a new position in Schlumberger in the 1st quarter valued at about $38,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Schlumberger in the 4th quarter valued at about $40,000. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SLB has been the topic of several recent analyst reports. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Melius Research initiated coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target for the company. Melius initiated coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Finally, Jefferies Financial Group lowered their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Price Performance

SLB stock traded down $0.21 during midday trading on Friday, reaching $35.81. 13,436,375 shares of the stock were exchanged, compared to its average volume of 12,118,300. The stock has a market capitalization of $48.38 billion, a PE ratio of 12.26, a P/E/G ratio of 9.94 and a beta of 1.05. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. 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 company has a fifty day moving average price of $34.75 and a 200 day moving average price of $35.95.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data 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. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the previous year, the company posted $0.85 EPS. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given 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 3.2%. Schlumberger's dividend payout ratio (DPR) is currently 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.