Mission Creek Capital Partners Inc. Sells 8,087 Shares of Schlumberger Limited $SLB

Key Points

• Mission Creek Capital Partners Inc. reduced its stock position in Schlumberger Limited by 9.1%, now holding 80,369 shares valued at approximately $3.36 million.
• Schlumberger reported earnings of $0.74 EPS in its latest quarter, exceeding estimates, while revenue was $8.55 billion, down 6.5% year-over-year.
• The company declared a quarterly dividend of $0.285 per share, providing a 3.2% yield to investors, with the dividend payout ratio currently at 39.04%.

Mission Creek Capital Partners Inc. lessened its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 9.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,369 shares of the oil and gas company's stock after selling 8,087 shares during the quarter. Mission Creek Capital Partners Inc.'s holdings in Schlumberger were worth $3,359,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Schlumberger during the 1st quarter valued at approximately $169,232,000. Scharf Investments LLC grew its holdings in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after buying an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Schlumberger by 810.4% in the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after purchasing an additional 66,907 shares during the period. Alan B Lancz & Associates Inc. purchased a new position in shares of Schlumberger in the 1st quarter worth approximately $308,000. Finally, Stratos Investment Management LLC boosted its holdings in shares of Schlumberger by 236.0% in the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock worth $6,141,000 after purchasing an additional 103,182 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SLB. Barclays dropped their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, July 21st. JPMorgan Chase & Co. dropped their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Morgan Stanley dropped their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Stifel Nicolaus dropped their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Stock Up 1.1%

Shares of SLB stock traded up $0.40 during mid-day trading on Friday, hitting $36.88. The stock had a trading volume of 11,882,956 shares, compared to its average volume of 12,249,297. The firm 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 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The firm's 50-day moving average is $34.53 and its two-hundred day moving average is $36.16.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate 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 previous year, the company posted $0.85 earnings per share. The firm's quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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 paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.1%. Schlumberger's dividend payout ratio is 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.