Northwestern Mutual Wealth Management Co. Grows Holdings in Schlumberger Limited $SLB

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Schlumberger Limited by 54.1%, owning 157,914 shares valued at approximately $6.60 million after purchasing additional shares in the first quarter.
• Schlumberger recently declared a quarterly dividend of $0.285 per share, representing an annualized dividend of $1.14 with a yield of 3.2%.
• Despite beating analysts' expectations with a reported $0.74 earnings per share for the quarter, Schlumberger experienced a 6.5% decline in revenue compared to the previous year.

Northwestern Mutual Wealth Management Co. boosted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 54.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,914 shares of the oil and gas company's stock after acquiring an additional 55,437 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Schlumberger were worth $6,601,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SLB. Vident Advisory LLC grew its stake in Schlumberger by 1.0% in the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after buying an additional 273 shares in the last quarter. Glen Eagle Advisors LLC boosted its stake in shares of Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after purchasing an additional 282 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of Schlumberger by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock valued at $307,000 after purchasing an additional 316 shares in the last quarter. Heritage Wealth Management Inc. Texas boosted its stake in shares of Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after purchasing an additional 318 shares in the last quarter. Finally, Wahed Invest LLC boosted its stake in shares of Schlumberger by 0.9% in the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock valued at $1,343,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 1.1%

NYSE SLB traded up $0.40 during trading on Friday, hitting $36.88. The company had a trading volume of 11,882,956 shares, compared to its average volume of 12,249,297. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The company has a market cap of $49.83 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 10.12 and a beta of 1.03. The company's fifty day moving average is $34.53 and its 200-day moving average is $36.20.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.1%. Schlumberger's dividend payout ratio is 39.04%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective 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 price objective for the company. Susquehanna cut their price objective 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. Morgan Stanley cut their price objective 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. Finally, Melius Research assumed coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.86.

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.