Schlumberger Limited $SLB Shares Acquired by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management Co. increased its stake in Schlumberger Limited by 52.1%, owning a total of 97,568 shares valued at approximately $4,078,000.
• Several hedge funds have also increased their holdings in Schlumberger during the first quarter, with 81.99% of the stock now owned by institutional investors.
• Schlumberger recently announced a quarterly dividend of $0.285, reflecting an annualized dividend yield of 3.1%.

Flputnam Investment Management Co. increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 52.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,568 shares of the oil and gas company's stock after acquiring an additional 33,400 shares during the period. Flputnam Investment Management Co.'s holdings in Schlumberger were worth $4,078,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Command Advisory Services Inc. raised its position in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Schlumberger during the first quarter worth about $33,000. Alpine Bank Wealth Management acquired a new position in Schlumberger during the first quarter worth about $34,000. Park Square Financial Group LLC purchased a new stake in shares of Schlumberger in the first quarter valued at $38,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at $40,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Up 2.8%

SLB stock traded up $0.99 during midday trading on Thursday, reaching $35.99. 12,329,353 shares of the company's stock traded hands, compared to its average volume of 16,168,477. The company has a market capitalization of $48.64 billion, a P/E ratio of 12.33, a PEG ratio of 10.22 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. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The business has a 50-day moving average price of $34.67 and a two-hundred day moving average price of $36.08.

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

Schlumberger Announces Dividend

The business 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 $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLB. Jefferies Financial Group reduced their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Melius began coverage on Schlumberger in a research report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. UBS Group reduced their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus reduced 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently 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.