OFI Invest Asset Management Raises Holdings in Schlumberger Limited $SLB

Key Points

• OFI Invest Asset Management increased its stake in Schlumberger Limited by 5.6%, owning approximately 1.39 million shares valued at around $47 million.
• Schlumberger reported earnings of $0.74 per share, beating estimates by $0.01, but noted a 6.5% revenue decline year-over-year.
• The company recently announced a quarterly dividend of $0.285 per share, yielding 3.6% annually, with a dividend payout ratio of 39.04%.

OFI Invest Asset Management boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,391,373 shares of the oil and gas company's stock after purchasing an additional 73,410 shares during the quarter. OFI Invest Asset Management owned approximately 0.10% of Schlumberger worth $47,028,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. First Command Advisory Services Inc. increased its holdings in Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 477 shares during the period. Atticus Wealth Management LLC purchased a new position in shares of Schlumberger in the 2nd quarter valued at about $29,000. Atlas Capital Advisors Inc. purchased a new position in shares of Schlumberger in the 1st quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Schlumberger by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of Schlumberger in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Trading Down 4.2%

Shares of SLB stock opened at $31.75 on Friday. The business's 50 day moving average is $34.53 and its two-hundred day moving average is $34.86. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $44.97. The company has a market capitalization of $47.42 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 8.82 and a beta of 0.97. 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 (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share 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 company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same period last year, the business posted $0.85 EPS. The company's revenue was down 6.5% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Analyst Ratings Changes

A number of research firms have recently commented on SLB. Melius began coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective on the stock. Piper Sandler dropped their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. 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 research note on Thursday, June 26th. Finally, Barclays dropped their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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.

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