Goodman Financial Corp Acquires New Position in Schlumberger Limited (NYSE:SLB)

Key Points

• Goodman Financial Corp acquired a new stake of 328,077 shares in Schlumberger Limited, valued at approximately $13.7 million, marking it as the firm's 12th largest position.
• Schlumberger recently declared a quarterly dividend of $0.285 per share, with an annualized yield of 3.33%, scheduled for payment on October 9th.
• The company's latest earnings report showed a net margin of 11.53% and earnings per share (EPS) of $0.74, slightly above analysts' expectations, but with a revenue decline of 6.5% year-over-year.

Goodman Financial Corp acquired a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 328,077 shares of the oil and gas company's stock, valued at approximately $13,714,000. Schlumberger makes up 3.0% of Goodman Financial Corp's holdings, making the stock its 12th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. grew its position in Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 477 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in Schlumberger during the first quarter worth $34,000. Park Square Financial Group LLC purchased a new stake in Schlumberger during the first quarter worth $38,000. N.E.W. Advisory Services LLC acquired a new position in Schlumberger during the first quarter worth $40,000. Finally, Sound Income Strategies LLC raised its position in Schlumberger by 265.4% during the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 698 shares during the period. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Down 4.0%

NYSE:SLB opened at $34.22 on Thursday. The stock has a fifty day simple moving average of $34.79 and a 200-day simple moving average of $37.32. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $48.57. The company has a market capitalization of $46.24 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 9.89 and a beta of 1.01. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS 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 company 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 company posted $0.85 EPS. The company's quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio is presently 39.04%.

Analysts Set New Price Targets

SLB has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. UBS Group increased their target price on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Piper Sandler reduced their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Finally, Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.28.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company's stock.

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.

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