Jones Financial Companies Lllp Has $1.10 Million Stock Holdings in Schlumberger Limited $SLB

Key Points

• Jones Financial Companies Lllp reduced its stake in Schlumberger Limited by 41.1% in Q1, owning 26,287 shares valued at approximately $1.10 million.
• Schlumberger reported a net margin of 11.53% and earnings of $0.74 per share, surpassing analysts' expectations, though revenue declined by 6.5% year-over-year.
• The company declared a quarterly dividend of $0.285 per share, resulting in an annualized yield of 3.2% and a payout ratio of 39.04%.

Jones Financial Companies Lllp lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 41.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,287 shares of the oil and gas company's stock after selling 18,375 shares during the period. Jones Financial Companies Lllp's holdings in Schlumberger were worth $1,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SLB. Brighton Jones LLC boosted its position in shares of Schlumberger by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after buying an additional 1,166 shares during the period. Bison Wealth LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth $238,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Schlumberger by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,587 shares of the oil and gas company's stock worth $5,390,000 after acquiring an additional 6,597 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Schlumberger by 68.9% during the fourth quarter. NorthRock Partners LLC now owns 17,865 shares of the oil and gas company's stock worth $685,000 after acquiring an additional 7,287 shares in the last quarter. Finally, Man Group plc raised its holdings in shares of Schlumberger by 132.9% during the fourth quarter. Man Group plc now owns 417,104 shares of the oil and gas company's stock worth $15,992,000 after acquiring an additional 237,992 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Price Performance

NYSE SLB opened at $35.58 on Friday. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The stock's 50-day moving average is $34.82 and its two-hundred day moving average is $35.79. 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 firm has a market cap of $53.14 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 10.00 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results 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. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the company earned $0.85 earnings per share. The business's revenue was down 6.5% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm 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. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger's payout ratio is presently 39.04%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SLB shares. Melius started coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Melius Research started coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. Jefferies Financial Group cut their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, Susquehanna cut their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.86.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated 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 in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

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.

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