Norinchukin Bank The Raises Position in Schlumberger Limited $SLB

Key Points

• Norinchukin Bank increased its holdings in Schlumberger Limited by 19.2% during the first quarter, acquiring an additional 15,991 shares, bringing their total ownership to 99,365 shares valued at $4.15 million.
• Schlumberger recently reported quarterly earnings of $0.74 EPS, exceeding analysts' expectations of $0.73, despite a 6.5% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.285 per share, which translates to an annualized dividend yield of 3.4%, set to be paid on October 9th.

Norinchukin Bank The boosted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,365 shares of the oil and gas company's stock after buying an additional 15,991 shares during the period. Norinchukin Bank The's holdings in Schlumberger were worth $4,153,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SLB. First Command Advisory Services Inc. raised its holdings in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Schlumberger in the 1st quarter worth $33,000. Alpine Bank Wealth Management bought a new position in Schlumberger in the 1st quarter worth $34,000. True Wealth Design LLC boosted its holdings in shares of Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 842 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Schlumberger during the 1st quarter valued at about $38,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Up 5.2%

Shares of NYSE SLB traded up $1.7650 during midday trading on Friday, reaching $35.5750. 16,023,117 shares of the stock were exchanged, compared to its average volume of 12,363,398. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market capitalization of $48.07 billion, a P/E ratio of 12.18, a PEG ratio of 9.88 and a beta of 1.03. The company has a 50 day simple moving average of $34.51 and a 200 day simple moving average of $36.30. 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 issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm's revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. As a group, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business 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 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. Barclays lowered their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Stifel Nicolaus cut their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Jefferies Financial Group cut their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.86.

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.