Mattson Financial Services LLC Buys 10,751 Shares of Schlumberger Limited $SLB

Key Points

• Mattson Financial Services LLC increased its holdings in Schlumberger Limited (NYSE:SLB) by 18.9%, acquiring an additional 10,751 shares, bringing its total to 67,638 shares valued at approximately $2.83 million.
• Analysts have mixed opinions on Schlumberger, with target price adjustments ranging from a decrease by Morgan Stanley to $45 to a new buy rating with a $82 price objective from Melius Research.
• Schlumberger announced a quarterly dividend of $0.285 per share, which is set to be paid on October 9th, representing an annualized yield of 3.2%.

Mattson Financial Services LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,638 shares of the oil and gas company's stock after acquiring an additional 10,751 shares during the quarter. Mattson Financial Services LLC's holdings in Schlumberger were worth $2,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. First Command Advisory Services Inc. boosted its position in Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Schlumberger during the 1st quarter valued at $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger during the 1st quarter valued at $34,000. Park Square Financial Group LLC bought a new stake in Schlumberger during the 1st quarter valued at $38,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Schlumberger during the 4th quarter valued at $40,000. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on SLB shares. Morgan Stanley dropped their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Melius Research initiated coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. Barclays decreased their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, July 21st. UBS Group decreased their price objective on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Finally, Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Two investment 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 presently has an average rating of "Moderate Buy" and a consensus price target of $52.86.

Schlumberger Price Performance

Shares of SLB opened at $36.16 on Thursday. The business's 50-day moving average is $34.81 and its two-hundred day moving average is $35.86. The company has a market capitalization of $54.00 billion, a P/E ratio of 12.38, a P/E/G ratio of 9.93 and a beta of 1.05. 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 Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) 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.

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