Mediolanum International Funds Ltd Raises Holdings in Schlumberger Limited (NYSE:SLB)

Key Points

• Mediolanum International Funds Ltd increased its stake in Schlumberger Limited by 50.1%, bringing its total ownership to approximately $45.85 million as of the first quarter.
• Recent analyst reports have led to a range of price target adjustments for Schlumberger, with a consensus price target now at $49.28, showcasing a mix of ratings including "buy" and "hold."
• Schlumberger declared a quarterly dividend of $0.285 per share, representing an annualized yield of 3.21%, with the payment set for October 9th.

Mediolanum International Funds Ltd boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 50.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,094,822 shares of the oil and gas company's stock after acquiring an additional 365,487 shares during the quarter. Mediolanum International Funds Ltd owned 0.08% of Schlumberger worth $45,851,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SLB. Brighton Jones LLC raised its stake in Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after buying an additional 1,166 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Schlumberger during the 4th quarter valued at $209,000. LPL Financial LLC raised its stake in Schlumberger by 3.3% during the 4th quarter. LPL Financial LLC now owns 790,906 shares of the oil and gas company's stock valued at $30,323,000 after buying an additional 25,547 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Schlumberger during the 4th quarter valued at $270,000. Finally, TIAA Trust National Association raised its stake in Schlumberger by 3.9% during the 4th quarter. TIAA Trust National Association now owns 10,068 shares of the oil and gas company's stock valued at $386,000 after buying an additional 376 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Piper Sandler reduced their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Barclays reduced their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $49.28.

Schlumberger Price Performance

Shares of SLB traded down $1.05 during midday trading on Wednesday, hitting $34.58. 7,169,104 shares of the company traded hands, compared to its average volume of 16,685,607. The firm has a 50 day moving average of $34.79 and a 200-day moving average of $37.35. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $48.57. The stock has a market cap of $46.72 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 9.95 and a beta of 1.01. 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 (NYSE:SLB - Get Free Report) last announced its quarterly 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 net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.30%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company's stock.

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.