Groupama Asset Managment Reduces Holdings in Schlumberger Limited $SLB

Key Points

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Groupama Asset Managment lessened its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 614,612 shares of the oil and gas company's stock after selling 50,606 shares during the period. Groupama Asset Managment's holdings in Schlumberger were worth $25,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SLB. JT Stratford LLC acquired a new stake in Schlumberger in the first quarter valued at $1,029,000. Andina Capital Management LLC purchased a new position in shares of Schlumberger in the 1st quarter valued at about $540,000. Alpha Family Trust raised its position in shares of Schlumberger by 11.0% during the 1st quarter. Alpha Family Trust now owns 5,970 shares of the oil and gas company's stock worth $250,000 after acquiring an additional 590 shares in the last quarter. Northern Trust Corp increased its stake in Schlumberger by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after purchasing an additional 604,832 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in Schlumberger by 119.0% during the first quarter. Brooklyn Investment Group now owns 4,904 shares of the oil and gas company's stock worth $205,000 after purchasing an additional 2,665 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of SLB traded up $1.7650 during mid-day trading on Friday, hitting $35.5750. The company's stock had a trading volume of 16,023,117 shares, compared to its average volume of 16,241,825. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.16. The firm has a market capitalization of $48.07 billion, a P/E ratio of 12.18, a P/E/G ratio of 9.26 and a beta of 1.03. The firm has a 50-day simple moving average of $34.53 and a 200 day simple moving average of $36.40.

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 business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter last year, the business posted $0.85 earnings per share. The business's revenue for the quarter was down 6.5% on a year-over-year basis. Analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given 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 of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is 39.04%.

Analysts Set New Price Targets

A number of research firms recently commented on SLB. UBS Group dropped their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday. Susquehanna reduced their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Melius assumed coverage on Schlumberger in a research report on Wednesday. They set a "buy" rating and a $82.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Melius Research began coverage on shares of Schlumberger in a report on Wednesday. They issued a "buy" rating and a $82.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued 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.