Mitsubishi UFJ Asset Management UK Ltd. Decreases Holdings in Schlumberger Limited $SLB

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. reduced its holdings in Schlumberger Limited by 50%, now owning 13,000 shares valued at $439,000.
• Multiple large investors have either increased or decreased their stakes in Schlumberger, indicating varying confidence levels in the stock.
• Schlumberger recently announced a quarterly dividend of $0.285, representing an annualized yield of 3.3% and a payout ratio of 39.04%.

Mitsubishi UFJ Asset Management UK Ltd. lessened its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 50.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,000 shares of the oil and gas company's stock after selling 13,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Schlumberger were worth $439,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SLB. Brighton Jones LLC increased its holdings in Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after buying an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new stake in Schlumberger during the fourth quarter worth about $238,000. Versant Capital Management Inc increased its holdings in Schlumberger by 114.2% during the first quarter. Versant Capital Management Inc now owns 3,209 shares of the oil and gas company's stock worth $134,000 after buying an additional 1,711 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Schlumberger by 5,982.4% in the first quarter. GAMMA Investing LLC now owns 905,848 shares of the oil and gas company's stock worth $37,864,000 after purchasing an additional 890,955 shares in the last quarter. Finally, American National Bank & Trust increased its stake in shares of Schlumberger by 60.9% in the first quarter. American National Bank & Trust now owns 1,422 shares of the oil and gas company's stock worth $59,000 after purchasing an additional 538 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Melius assumed coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price for the company. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Susquehanna reduced their target price on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Price Performance

SLB stock opened at $34.36 on Wednesday. The stock has a market cap of $51.32 billion, a PE ratio of 11.77, a P/E/G ratio of 9.75 and a beta of 1.05. 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 one year low of $31.11 and a one year high of $46.15. The firm has a 50 day simple moving average of $34.68 and a two-hundred day simple moving average of $35.28.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business's quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. On average, analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is presently 39.04%.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% 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.

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