Schlumberger Limited $SLB Stock Position Decreased by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. sold 7,843 shares of Schlumberger Limited, lowering its position by 3.8%, and now holds 197,589 shares worth approximately $8.26 million.
• Several institutional investors significantly increased their stakes in Schlumberger during the first quarter, with Charles Schwab Investment Management increasing its holdings by 478.8%.
• Schlumberger reported earnings of $0.74 per share for the recent quarter, exceeding estimates, but revenue decreased by 6.5% compared to the previous year.

Gamco Investors INC. ET AL reduced its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 197,589 shares of the oil and gas company's stock after selling 7,843 shares during the quarter. Gamco Investors INC. ET AL's holdings in Schlumberger were worth $8,259,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SLB. First Command Advisory Services Inc. boosted its stake 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 valued at $27,000 after buying an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Schlumberger in the first quarter worth about $33,000. Alpine Bank Wealth Management acquired a new stake in Schlumberger in the 1st quarter valued at about $34,000. True Wealth Design LLC boosted its position in shares of Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 842 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Schlumberger during the 1st quarter valued at about $38,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 1.1%

Shares of Schlumberger stock traded up $0.40 during midday trading on Friday, hitting $36.88. The company's stock had a trading volume of 11,882,956 shares, compared to its average volume of 12,249,297. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $49.83 billion, a P/E ratio of 12.63, a PEG ratio of 10.12 and a beta of 1.03. The stock has a 50-day simple moving average of $34.53 and a 200-day simple moving average of $36.20.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the prior year, the business earned $0.85 EPS. The business's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

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 issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Analysts Set New Price Targets

SLB has been the topic of a number of research reports. Susquehanna dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. UBS Group decreased their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Melius began coverage on Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Melius Research assumed coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Two equities 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 company. According to MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $52.86.

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.