91,462 Shares in Schlumberger Limited $SLB Acquired by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $3.82 million in Schlumberger Limited, acquiring 91,462 shares during the first quarter.
• Multiple analysts have reduced their price targets for Schlumberger, with the average target now at $52.86 and a rating of "Moderate Buy".
• Schlumberger announced a quarterly dividend of $0.285 per share, resulting in an annualized yield of 3.2% for shareholders.

Jacobs Levy Equity Management Inc. purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 91,462 shares of the oil and gas company's stock, valued at approximately $3,823,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Schlumberger during the 1st quarter worth about $169,232,000. Scharf Investments LLC increased its position in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC increased its position in Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. purchased a new stake in Schlumberger during the 1st quarter worth about $308,000. Finally, Stratos Investment Management LLC increased its position in Schlumberger by 236.0% during the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock worth $6,141,000 after purchasing an additional 103,182 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on SLB. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Barclays decreased their price target 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 decreased their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, UBS Group decreased their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Trading Down 1.2%

NYSE:SLB traded down $0.45 during mid-day trading on Friday, reaching $35.58. The company's stock had a trading volume of 13,476,657 shares, compared to its average volume of 13,834,755. The company's fifty day simple moving average is $34.82 and its two-hundred day simple moving average is $35.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15. The stock has a market cap of $53.14 billion, a P/E ratio of 12.18, a P/E/G ratio of 9.87 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 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company's revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed 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. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.22% of the stock is owned by corporate insiders.

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.