JT Stratford LLC Acquires New Position in Schlumberger Limited $SLB

Key Points

• JT Stratford LLC has invested approximately $1.03 million in Schlumberger Limited, acquiring 24,614 shares in the first quarter of the year.
• Institutional investors now own 81.99% of Schlumberger's stock, reflecting a significant interest from hedge funds and other financial entities.
• Schlumberger's recent earnings report showed an EPS of $0.74, surpassing estimates, although revenue decreased 6.5% compared to the previous year.

JT Stratford LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,614 shares of the oil and gas company's stock, valued at approximately $1,029,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vident Advisory LLC raised its stake 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 worth $1,067,000 after purchasing an additional 273 shares during the period. Glen Eagle Advisors LLC raised its stake in Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 282 shares during the period. Heritage Wealth Management Inc. Texas raised its stake in Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 318 shares during the period. Wahed Invest LLC raised its stake in Schlumberger by 0.9% during the fourth quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock worth $1,343,000 after purchasing an additional 319 shares during the period. Finally, Horizon Investments LLC raised its stake in Schlumberger by 1.5% during the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after purchasing an additional 330 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 5.2%

Shares of SLB traded up $1.7650 during midday trading on Friday, hitting $35.5750. The company had a trading volume of 16,023,117 shares, compared to its average volume of 12,135,544. The company's 50 day moving average price is $34.51 and its 200 day moving average price is $36.36. The stock has a market cap of $48.07 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 9.38 and a beta of 1.03. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.16. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during 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 company's revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SLB shares. Susquehanna cut their target price on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Morgan Stanley cut their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Jefferies Financial Group cut 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. Piper Sandler cut their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger 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.