Integrated Wealth Concepts LLC Buys 7,555 Shares of Schlumberger Limited $SLB

Key Points

• Integrated Wealth Concepts LLC increased its stake in Schlumberger Limited by 13.8%, holding 62,402 shares valued at approximately $2.6 million by the end of the first quarter.
• Schlumberger's recent quarterly earnings showed an EPS of $0.74, exceeding analyst expectations, despite a 6.5% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.285, resulting in a 3.2% annualized yield, with a payout ratio of 39.04%.

Integrated Wealth Concepts LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 13.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,402 shares of the oil and gas company's stock after purchasing an additional 7,555 shares during the period. Integrated Wealth Concepts LLC's holdings in Schlumberger were worth $2,608,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Invenomic Capital Management LP boosted its position in Schlumberger by 23.2% during the first quarter. Invenomic Capital Management LP now owns 566,191 shares of the oil and gas company's stock valued at $23,667,000 after purchasing an additional 106,754 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Schlumberger during the first quarter valued at approximately $3,823,000. Hancock Whitney Corp boosted its position in Schlumberger by 4.3% during the first quarter. Hancock Whitney Corp now owns 20,499 shares of the oil and gas company's stock valued at $857,000 after purchasing an additional 839 shares during the last quarter. DnB Asset Management AS boosted its position in Schlumberger by 0.3% during the first quarter. DnB Asset Management AS now owns 1,262,812 shares of the oil and gas company's stock valued at $52,786,000 after purchasing an additional 3,354 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in Schlumberger by 2.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,815,734 shares of the oil and gas company's stock valued at $201,298,000 after purchasing an additional 97,836 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

NYSE:SLB traded down $0.45 during mid-day trading on Friday, hitting $35.58. 13,476,657 shares of the stock were exchanged, compared to its average volume of 13,834,755. The firm's 50-day simple moving average is $34.82 and its 200 day simple moving average is $35.72. The stock has a market capitalization of $53.14 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 9.87 and a beta of 1.05. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

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, beating analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period in the prior year, the firm posted $0.85 EPS. The company's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities analysts anticipate 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 issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SLB shares. Stifel Nicolaus reduced their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Barclays dropped their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Piper Sandler dropped their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group dropped their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Susquehanna dropped their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Two equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.86.

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.