Lansforsakringar Fondforvaltning AB publ Sells 22,131 Shares of Schlumberger Limited $SLB

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in Schlumberger Limited by 3.8% during the first quarter, holding 565,395 shares valued at approximately $23.6 million.
• Schlumberger reported earnings per share of $0.74, exceeding analyst expectations, with quarterly revenue of $8.55 billion, despite a 6.5% decline compared to the previous year.
• The company announced a quarterly dividend of $0.285 per share, with a dividend payout ratio of 39.04% and an annualized yield of 3.1%.

Lansforsakringar Fondforvaltning AB publ trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,395 shares of the oil and gas company's stock after selling 22,131 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Schlumberger were worth $23,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vident Advisory LLC increased its stake in shares of Schlumberger by 1.0% in 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 in the last quarter. Glen Eagle Advisors LLC lifted its stake in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after buying an additional 282 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Schlumberger by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after buying an additional 316 shares during the period. Heritage Wealth Management Inc. Texas increased its stake in Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after buying an additional 318 shares in the last quarter. Finally, Wahed Invest LLC increased its stake in Schlumberger by 0.9% in the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock worth $1,343,000 after buying an additional 319 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SLB shares. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Melius began coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Susquehanna cut their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Finally, Barclays reduced their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Price Performance

NYSE SLB traded up $0.40 during trading on Monday, hitting $36.88. 11,882,956 shares of the stock traded hands, compared to its average volume of 11,990,119. 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 Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The firm has a 50-day simple moving average of $34.53 and a 200-day simple moving average of $36.12. The company has a market capitalization of $49.83 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 10.22 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 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 during the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the prior year, the company earned $0.85 EPS. The company's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

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.