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Federated Hermes Inc. Acquires 11,939 Shares of Schlumberger Limited (NYSE:SLB)

Schlumberger logo with Energy background

Key Points

  • Federated Hermes Inc. increased its stake in Schlumberger Limited by 4.5%, owning 279,000 shares valued at approximately $11.66 million as of the latest SEC filing.
  • Analysts have cut their target prices for Schlumberger, with JPMorgan lowering it from $46.00 to $44.00 while maintaining an "overweight" rating.
  • Schlumberger recently declared a quarterly dividend of $0.285 per share, representing an annualized yield of 3.5% and a payout ratio of 39.04%.
  • Five stocks we like better than Schlumberger.

Federated Hermes Inc. grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 279,000 shares of the oil and gas company's stock after purchasing an additional 11,939 shares during the period. Federated Hermes Inc.'s holdings in Schlumberger were worth $11,662,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Schlumberger by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Schlumberger by 9.4% in the fourth quarter. Northern Trust Corp now owns 13,817,667 shares of the oil and gas company's stock valued at $529,769,000 after purchasing an additional 1,192,399 shares in the last quarter. Sanders Capital LLC lifted its holdings in shares of Schlumberger by 1.9% in the fourth quarter. Sanders Capital LLC now owns 10,697,985 shares of the oil and gas company's stock valued at $410,161,000 after purchasing an additional 203,766 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Schlumberger by 8.8% in the fourth quarter. Invesco Ltd. now owns 7,377,240 shares of the oil and gas company's stock valued at $282,843,000 after purchasing an additional 596,008 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

Shares of SLB stock traded down $0.76 during trading on Friday, hitting $33.04. The company had a trading volume of 17,069,976 shares, compared to its average volume of 19,117,582. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $44.65 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 9.17 and a beta of 1.03. The stock's 50-day moving average price is $34.78 and its 200 day moving average price is $37.18. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.16.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations 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 period in the previous year, the company posted $0.85 earnings per share. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared 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. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is 39.04%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares in the company, 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 filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company's stock.

Analyst Ratings Changes

SLB has been the topic of a number of research reports. Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Barclays lowered their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Stifel Nicolaus lowered their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Susquehanna lowered their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Finally, Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $49.28.

View Our Latest Stock Report on SLB

Schlumberger Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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