MBB Public Markets I LLC Buys 82,652 Shares of Schlumberger Limited $SLB

Key Points

• MBB Public Markets I LLC increased its stake in Schlumberger Limited by 25.4% during the first quarter, purchasing an additional 82,652 shares to hold a total of 408,473 shares valued at approximately $17 million.
• Institutional investors now own 81.99% of Schlumberger's stock, with notable increases in holdings from Ascent Group LLC (71.8%) and RNC Capital Management LLC (85%).
• Schlumberger announced a quarterly dividend of $0.285 per share, representing a 3.2% yield, payable on October 9th to stockholders of record as of September 3rd.

MBB Public Markets I LLC lifted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 25.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 408,473 shares of the oil and gas company's stock after acquiring an additional 82,652 shares during the period. Schlumberger accounts for 1.9% of MBB Public Markets I LLC's portfolio, making the stock its 19th biggest holding. MBB Public Markets I LLC's holdings in Schlumberger were worth $17,074,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vident Advisory LLC grew its holdings 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 valued at $1,067,000 after purchasing an additional 273 shares during the last quarter. Glen Eagle Advisors LLC grew its stake in shares of Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after acquiring an additional 282 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of Schlumberger by 4.5% in the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after acquiring an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas grew its stake in shares of Schlumberger by 2.2% in 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 acquiring an additional 318 shares during the last quarter. Finally, Horizon Investments LLC grew its stake in shares of Schlumberger by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after acquiring an additional 330 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SLB shares. Jefferies Financial Group lowered their price objective 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 lowered their price objective 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. UBS Group lowered their price objective on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Melius started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.86.

Insider Activity

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction 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 completion of the transaction, the insider directly owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

SLB stock traded down $0.45 during midday trading on Friday, hitting $35.58. The stock had a trading volume of 13,476,657 shares, compared to its average volume of 13,681,992. The firm has a market capitalization of $53.14 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 10.00 and a beta of 1.05. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The stock has a 50-day simple moving average of $34.82 and a 200 day simple moving average of $35.79. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

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