Natixis Advisors LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Key Points

• Natixis Advisors LLC increased its stake in Schlumberger Limited by 35.6% during the 1st quarter, now owning a total of 616,767 shares valued at approximately $25.78 million.
• Several research firms have adjusted their price targets for Schlumberger, with JPMorgan Chase now setting a target of $44.00 and maintaining an "overweight" rating.
• Schlumberger is set to pay a quarterly dividend of $0.285 on October 9th, representing a 3.5% dividend yield based on an annualized amount of $1.14.

Natixis Advisors LLC increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 35.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 616,767 shares of the oil and gas company's stock after buying an additional 161,774 shares during the quarter. Natixis Advisors LLC's holdings in Schlumberger were worth $25,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Schlumberger by 21.4% during the fourth 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 period. Westpac Banking Corp lifted its holdings in shares of Schlumberger by 11.1% during the fourth quarter. Westpac Banking Corp now owns 19,758 shares of the oil and gas company's stock valued at $758,000 after purchasing an additional 1,973 shares in the last quarter. World Investment Advisors lifted its holdings in shares of Schlumberger by 12.2% during the fourth quarter. World Investment Advisors now owns 5,582 shares of the oil and gas company's stock valued at $215,000 after purchasing an additional 609 shares in the last quarter. Smith Moore & CO. increased its position in Schlumberger by 11.9% during the fourth quarter. Smith Moore & CO. now owns 20,482 shares of the oil and gas company's stock valued at $785,000 after acquiring an additional 2,182 shares during the last quarter. Finally, Islay Capital Management LLC increased its position in Schlumberger by 8.2% in the fourth quarter. Islay Capital Management LLC now owns 28,713 shares of the oil and gas company's stock worth $1,101,000 after buying an additional 2,188 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of NYSE:SLB traded down $0.76 during midday trading on Friday, hitting $33.04. The company had a trading volume of 17,069,976 shares, compared to its average volume of 19,117,582. The business's 50-day simple moving average is $34.78 and its 200-day simple moving average is $37.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market cap of $44.65 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 9.17 and a beta of 1.03. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating 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 return on equity of 20.99% and a net margin of 11.53%. Schlumberger's revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. On average, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is presently 39.04%.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLB. Jefferies Financial Group cut their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. JPMorgan Chase & Co. decreased their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Susquehanna decreased their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research report on Monday, July 21st. Barclays reduced their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Finally, Piper Sandler reduced their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.28.

Schlumberger Company 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.