NewEdge Advisors LLC Has $2.70 Million Holdings in Schlumberger Limited $SLB

Key Points

• NewEdge Advisors LLC increased its holdings in Schlumberger Limited by 21.8% in the first quarter, totaling approximately $2.70 million worth of the company's stock.
• Schlumberger's Earnings Per Share (EPS) for the last quarter was reported at $0.74, surpassing analysts' estimates by $0.01, despite a decline in revenue on a year-over-year basis.
• The company recently announced a quarterly dividend of $0.285 per share, resulting in an annualized dividend yield of 3.2%.

NewEdge Advisors LLC raised its position in Schlumberger Limited (NYSE:SLB - Free Report) by 21.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 64,477 shares of the oil and gas company's stock after acquiring an additional 11,527 shares during the period. NewEdge Advisors LLC's holdings in Schlumberger were worth $2,695,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. grew its stake in Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger in the first quarter valued at approximately $33,000. Alpine Bank Wealth Management bought a new position in shares of Schlumberger in the first quarter valued at approximately $34,000. Park Square Financial Group LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $38,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SLB shares. UBS Group dropped their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Barclays dropped their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Jefferies Financial Group dropped their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Finally, Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Two research 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.86.

Schlumberger Stock Performance

Shares of SLB opened at $36.16 on Thursday. The firm has a market cap of $54.00 billion, a PE ratio of 12.38, a PEG ratio of 9.93 and a beta of 1.05. The stock's fifty day moving average price is $34.81 and its two-hundred day moving average price is $35.86. 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 1 year low of $31.11 and a 1 year high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion for 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%.The business's revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. Schlumberger's payout ratio is presently 39.04%.

About Schlumberger

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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