First Financial Bankshares Inc Has $23.10 Million Stock Holdings in Schlumberger Limited $SLB

Key Points

• First Financial Bankshares Inc increased its stake in Schlumberger Limited by 8.4% during the first quarter, owning a total of 552,606 shares valued at approximately $23.1 million.
• Several large investors significantly boosted or initiated positions in Schlumberger during the first quarter, with hedge funds collectively owning 81.99% of the company's stock.
• Schlumberger recently announced a quarterly dividend of $0.285, representing an annualized yield of 3.1%, with a payout ratio of 39.04%.

First Financial Bankshares Inc grew its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 552,606 shares of the oil and gas company's stock after purchasing an additional 42,999 shares during the period. First Financial Bankshares Inc's holdings in Schlumberger were worth $23,099,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SLB. Flputnam Investment Management Co. boosted its stake in Schlumberger by 52.1% during the first quarter. Flputnam Investment Management Co. now owns 97,568 shares of the oil and gas company's stock valued at $4,078,000 after buying an additional 33,400 shares in the last quarter. Energy Income Partners LLC boosted its stake in Schlumberger by 31.3% during the first quarter. Energy Income Partners LLC now owns 500,003 shares of the oil and gas company's stock valued at $20,900,000 after buying an additional 119,120 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in Schlumberger during the first quarter valued at about $413,000. DRW Securities LLC bought a new position in Schlumberger during the first quarter valued at about $255,000. Finally, Twin Tree Management LP boosted its stake in Schlumberger by 766.9% during the first quarter. Twin Tree Management LP now owns 13,870 shares of the oil and gas company's stock valued at $580,000 after buying an additional 12,270 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Up 2.8%

NYSE SLB traded up $0.99 during trading hours on Thursday, hitting $35.99. 12,329,353 shares of the company traded hands, compared to its average volume of 16,168,477. 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 business's 50-day moving average is $34.67 and its 200-day moving average is $36.08. The stock has a market capitalization of $48.64 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 10.22 and a beta of 1.05. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data 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 firm 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 business'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 earnings per share. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. 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 39.04%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLB. Melius initiated coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price for the company. Barclays reduced their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. JPMorgan Chase & Co. cut their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Stifel Nicolaus cut their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.86.

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.