Horan Capital Advisors LLC. Takes $2.56 Million Position in Schlumberger Limited (NYSE:SLB)

Key Points

• Horan Capital Advisors LLC has invested approximately $2.56 million in Schlumberger Limited (NYSE:SLB), acquiring 61,312 shares during the 1st quarter.
• Schlumberger's earnings report revealed a quarterly EPS of $0.74, exceeding analysts' expectations, despite a year-over-year revenue decline of 6.5%.
• The company has announced a quarterly dividend of $0.285 per share, representing an annualized dividend yield of 3.21%, with the payout scheduled for October 9th.

Horan Capital Advisors LLC. purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 61,312 shares of the oil and gas company's stock, valued at approximately $2,563,000.

Several other hedge funds and other institutional investors have also modified their holdings of SLB. Vident Advisory LLC grew its position in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after purchasing an additional 273 shares in the last quarter. Glen Eagle Advisors LLC lifted its stake in Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after acquiring an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas lifted its stake in Schlumberger by 2.2% in the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after acquiring an additional 318 shares during the last quarter. Wahed Invest LLC lifted its stake in Schlumberger by 0.9% in the fourth quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock valued at $1,343,000 after acquiring an additional 319 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in Schlumberger by 2.0% in the first quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company's stock valued at $704,000 after acquiring an additional 336 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Down 0.6%

Shares of NYSE SLB traded down $0.21 during midday trading on Thursday, reaching $33.97. The company's stock had a trading volume of 7,036,492 shares, compared to its average volume of 16,690,104. 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 fifty-two week low of $31.11 and a fifty-two week high of $48.57. The stock has a market capitalization of $45.90 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 9.89 and a beta of 1.01. The stock has a 50 day simple moving average of $34.79 and a 200-day simple moving average of $37.32.

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

Schlumberger Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.36%. Schlumberger's dividend payout ratio is currently 39.04%.

Insider Activity at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director directly owned 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on SLB. 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 note on Monday, June 30th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Susquehanna decreased their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Stifel Nicolaus decreased their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Morgan Stanley decreased their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $49.28.

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.