Hamilton Capital LLC Invests $301,000 in Schlumberger Limited $SLB

Key Points

• Hamilton Capital LLC has invested approximately $301,000 in Schlumberger Limited, acquiring 7,195 shares of the oil and gas company.
• Institutional investors have significantly increased their holdings in Schlumberger, with Charles Schwab Investment Management boosting theirs by 478.8% during the first quarter.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, representing a dividend yield of 3.2%, scheduled to be paid on October 9th.

Hamilton Capital LLC acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,195 shares of the oil and gas company's stock, valued at approximately $301,000.

A number of other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after acquiring an additional 39,474,501 shares during the period. Boston Partners raised its position in shares of Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after acquiring an additional 4,300,222 shares during the period. Northern Trust Corp raised its position in shares of 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 worth $602,860,000 after acquiring an additional 604,832 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Schlumberger by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock worth $375,738,000 after acquiring an additional 1,667,203 shares during the period. Finally, Invesco Ltd. raised its position in shares of Schlumberger by 3.8% during the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock worth $320,154,000 after purchasing an additional 281,937 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

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

Schlumberger Price Performance

NYSE SLB traded down $0.45 during trading hours on Friday, hitting $35.58. 13,476,657 shares of the company's stock traded hands, compared to its average volume of 13,681,992. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The company has a market capitalization of $53.14 billion, a PE ratio of 12.18, a PEG ratio of 10.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The firm's 50-day moving average is $34.82 and its 200-day moving average is $35.79.

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, beating the consensus estimate 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 analysts' expectations of $8.51 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Schlumberger's revenue was down 6.5% compared to the same quarter last year. Equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid 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 39.04%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research analyst reports. Susquehanna reduced their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research report on Monday, July 21st. Morgan Stanley reduced their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. UBS Group reduced their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Stifel Nicolaus reduced their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Finally, Piper Sandler reduced their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.86.

Schlumberger 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.