Federation des caisses Desjardins du Quebec Cuts Stock Holdings in Schlumberger Limited $SLB

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its stake in Schlumberger Limited by 10.9%, selling 15,622 shares and leaving it with 128,303 shares valued at approximately $5.36 million.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, representing an annualized yield of 3.2%, with the ex-dividend date set for September 3rd.
• The company reported an earnings per share (EPS) of $0.74 for the last quarter, slightly exceeding analysts' expectations, despite a 6.5% decrease in revenue year-over-year.

Federation des caisses Desjardins du Quebec lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 10.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,303 shares of the oil and gas company's stock after selling 15,622 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Schlumberger were worth $5,364,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Chiron Capital Management LLC increased its holdings in Schlumberger by 10.2% in the first quarter. Chiron Capital Management LLC now owns 19,536 shares of the oil and gas company's stock valued at $817,000 after buying an additional 1,816 shares during the last quarter. HBK Investments L P increased its holdings in Schlumberger by 82.8% in the first quarter. HBK Investments L P now owns 584,769 shares of the oil and gas company's stock valued at $24,443,000 after buying an additional 264,869 shares during the last quarter. Ashton Thomas Securities LLC increased its holdings in Schlumberger by 88.1% in the first quarter. Ashton Thomas Securities LLC now owns 39,046 shares of the oil and gas company's stock valued at $1,630,000 after buying an additional 18,293 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in Schlumberger in the first quarter valued at $218,000. Finally, First Financial Bankshares Inc increased its holdings in Schlumberger by 8.4% in the first quarter. First Financial Bankshares Inc now owns 552,606 shares of the oil and gas company's stock valued at $23,099,000 after buying an additional 42,999 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SLB shares. Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Melius started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. Melius Research started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. UBS Group decreased their price objective on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Stock Performance

Shares of SLB traded down $0.21 during mid-day trading on Friday, hitting $35.81. 13,436,375 shares of the company's stock were exchanged, compared to its average volume of 12,279,266. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The firm has a market capitalization of $48.38 billion, a P/E ratio of 12.26, a P/E/G ratio of 9.94 and a beta of 1.05. The business's 50 day moving average is $34.75 and its two-hundred day moving average is $35.95. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business's quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. Schlumberger's dividend payout ratio is 39.04%.

About Schlumberger

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.