Focus Partners Wealth Has $7.08 Million Position in Schlumberger Limited $SLB

Key Points

• Focus Partners Wealth increased its investment in Schlumberger Limited by 13.8%, owning 169,101 shares valued at approximately $7.08 million.
• Schlumberger reported quarterly earnings of $0.74 per share, which surpassed analysts' expectations, although revenue decreased by 6.5% compared to the previous year.
• The company declared a quarterly dividend of $0.285 per share, resulting in an annualized dividend yield of 3.2%.

Focus Partners Wealth raised its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 13.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,101 shares of the oil and gas company's stock after purchasing an additional 20,463 shares during the period. Focus Partners Wealth's holdings in Schlumberger were worth $7,076,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. First Command Advisory Services Inc. grew its position in Schlumberger by 300.0% in 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 in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Schlumberger in the first quarter worth $33,000. Alpine Bank Wealth Management acquired a new position in Schlumberger during the first quarter worth $34,000. Park Square Financial Group LLC bought a new position in Schlumberger during the first quarter valued at about $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger in the fourth quarter worth about $40,000. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SLB. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Barclays lowered their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Jefferies Financial Group lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Two research 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.com, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Trading Down 1.2%

Shares of SLB opened at $35.58 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market cap of $53.14 billion, a PE ratio of 12.18, a PEG ratio of 10.00 and a beta of 1.05. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The stock has a 50 day simple moving average of $34.82 and a 200-day simple moving average of $35.75.

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 return on equity of 20.99% and a net margin of 11.53%.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 prior year, the business posted $0.85 earnings per share. The business's revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Schlumberger Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.