Ninety One UK Ltd Has $15.03 Million Stock Holdings in Schlumberger Limited $SLB

Key Points

• Ninety One UK Ltd has increased its holdings in Schlumberger Limited by 24.6% during the second quarter, now owning 444,537 shares worth approximately $15.03 million.
• Schlumberger reported a quarterly earnings of $0.74 per share, exceeding expectations, with revenue of $8.55 billion, although this reflects a 6.5% decrease year-over-year.
• The company declared a quarterly dividend of $0.285 per share, which equates to an annual yield of 3.3%, with the payment scheduled for October 9th.

Ninety One UK Ltd lifted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 24.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 444,537 shares of the oil and gas company's stock after buying an additional 87,770 shares during the period. Ninety One UK Ltd's holdings in Schlumberger were worth $15,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Schlumberger by 21.4% in 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 acquired a new stake in shares of Schlumberger in the fourth quarter worth about $238,000. GAMMA Investing LLC lifted its position 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 buying an additional 890,955 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Schlumberger by 182,500.0% in the first quarter. NBC Securities Inc. now owns 12,782 shares of the oil and gas company's stock worth $534,000 after buying an additional 12,775 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Schlumberger by 132.3% in the first quarter. Merit Financial Group LLC now owns 34,132 shares of the oil and gas company's stock worth $1,427,000 after buying an additional 19,438 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 2.0%

Shares of SLB opened at $35.07 on Thursday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $52.38 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 9.54 and a beta of 0.97. The stock's 50-day moving average price is $34.68 and its 200 day moving average price is $35.28.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly 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. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The company's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. Melius Research initiated coverage on Schlumberger in a research report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target for the company. Barclays reduced their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. UBS Group reduced their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Jefferies Financial Group reduced their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Finally, Stifel Nicolaus cut their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.18.

Insider Transactions at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is owned by corporate insiders.

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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