Gulf International Bank UK Ltd Sells 28,651 Shares of Schlumberger Limited (NYSE:SLB)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Schlumberger Limited by 25.7%, selling 28,651 shares during the first quarter, leaving them with 82,854 shares valued at approximately $3.46 million.
• Schlumberger reported earnings per share (EPS) of $0.74 for the most recent quarter, surpassing analysts' expectations, despite a 6.5% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.285 per share, reflecting a yield of 3.4% and a payout ratio of 39.04%, set to be paid on October 9th.

Gulf International Bank UK Ltd trimmed its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 25.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,854 shares of the oil and gas company's stock after selling 28,651 shares during the period. Gulf International Bank UK Ltd's holdings in Schlumberger were worth $3,463,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SLB. Brighton Jones LLC raised its stake in shares of Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after acquiring an additional 1,166 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of Schlumberger in the 4th quarter valued at approximately $366,000. Mariner LLC raised its stake in shares of Schlumberger by 1.0% in the 4th quarter. Mariner LLC now owns 295,864 shares of the oil and gas company's stock valued at $11,343,000 after acquiring an additional 2,794 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of Schlumberger by 8.2% in the 4th quarter. CreativeOne Wealth LLC now owns 5,320 shares of the oil and gas company's stock valued at $204,000 after acquiring an additional 405 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Schlumberger in the 4th quarter valued at approximately $1,127,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Up 1.8%

Shares of SLB opened at $33.54 on Thursday. The stock has a market cap of $45.32 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 9.14 and a beta of 1.03. 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 Limited has a 12 month low of $31.11 and a 12 month high of $46.16. The company has a 50-day moving average price of $34.68 and a two-hundred day moving average price of $36.72.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group decreased their target price on 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 decreased their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Barclays decreased their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Four research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.28.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company's stock.

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.