Ieq Capital LLC Acquires 36,435 Shares of Schlumberger Limited $SLB

Key Points

• Ieq Capital LLC has increased its stake in Schlumberger Limited by 33.1% during the first quarter, acquiring an additional 36,435 shares, bringing its total holdings to 146,552 shares valued at $6,126,000.
• Analysts have mixed opinions on Schlumberger's stock; while Barclays lowered its price target to $46, Melius Research initiated coverage with a "buy" rating and a target price of $82.
• Schlumberger announced a quarterly dividend of $0.285, which will be paid on October 9th, representing an annualized yield of 3.1% with a payout ratio of 39.04%.

Ieq Capital LLC boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 33.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,552 shares of the oil and gas company's stock after buying an additional 36,435 shares during the quarter. Ieq Capital LLC's holdings in Schlumberger were worth $6,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SLB. First Command Advisory Services Inc. boosted its stake in shares of Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in Schlumberger in the 1st quarter worth $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger in the first quarter worth $34,000. Park Square Financial Group LLC purchased a new position in shares of Schlumberger in the first quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Schlumberger in the 1st quarter valued at about $40,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent research reports. Piper Sandler reduced their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Susquehanna dropped their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Jefferies Financial Group decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Stifel Nicolaus lowered their price target 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, UBS Group cut their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Trading Up 1.1%

NYSE:SLB traded up $0.40 during trading hours on Friday, hitting $36.88. The company had a trading volume of 11,882,956 shares, compared to its average volume of 11,990,119. 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 stock has a 50-day moving average price of $34.53 and a 200 day moving average price of $36.12. The company has a market capitalization of $49.83 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 10.22 and a beta of 1.05. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last issued 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. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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 is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.1%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

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.