HBK Investments L P Increases Stock Holdings in Schlumberger Limited $SLB

Key Points

• HBK Investments L P increased its holdings in Schlumberger Limited by 82.8%, owning 584,769 shares worth approximately $24.44 million, making it the 20th largest position in their portfolio.
• Several analysts have set new price targets for SLB, with a consensus rating of "Moderate Buy" and a price target of $52.86, indicating positive market sentiment.
• Schlumberger recently declared a quarterly dividend of $0.285 per share, resulting in a 3.1% dividend yield for shareholders, with a payout ratio of 39.04%.

HBK Investments L P increased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 82.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 584,769 shares of the oil and gas company's stock after acquiring an additional 264,869 shares during the quarter. Schlumberger comprises approximately 0.6% of HBK Investments L P's portfolio, making the stock its 20th biggest position. HBK Investments L P's holdings in Schlumberger were worth $24,443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC lifted its stake in Schlumberger by 88.1% in the first quarter. Ashton Thomas Securities LLC now owns 39,046 shares of the oil and gas company's stock worth $1,630,000 after acquiring an additional 18,293 shares during the period. Focus Partners Advisor Solutions LLC purchased a new stake in Schlumberger in the first quarter worth $218,000. First Financial Bankshares Inc lifted its stake in Schlumberger by 8.4% in the first quarter. First Financial Bankshares Inc now owns 552,606 shares of the oil and gas company's stock worth $23,099,000 after acquiring an additional 42,999 shares during the period. Flputnam Investment Management Co. lifted its stake in Schlumberger by 52.1% in the first quarter. Flputnam Investment Management Co. now owns 97,568 shares of the oil and gas company's stock worth $4,078,000 after acquiring an additional 33,400 shares during the period. Finally, Energy Income Partners LLC lifted its stake in Schlumberger by 31.3% in the first quarter. Energy Income Partners LLC now owns 500,003 shares of the oil and gas company's stock worth $20,900,000 after acquiring an additional 119,120 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SLB shares. Susquehanna dropped their price target on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. UBS Group decreased their price objective on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Morgan Stanley decreased their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Melius Research began coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Stock Up 2.8%

Shares of NYSE:SLB traded up $0.99 on Thursday, hitting $35.99. 12,329,353 shares of the company traded hands, compared to its average volume of 16,168,477. Schlumberger Limited has a 52 week low of $31.11 and a 52 week 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 stock has a 50 day simple moving average of $34.67 and a 200-day simple moving average of $36.08. The company has a market cap of $48.64 billion, a PE ratio of 12.33, a PEG ratio of 10.22 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 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 company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period last year, the company earned $0.85 EPS. Schlumberger's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

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.