Schlumberger Limited $SLB Shares Sold by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp reduced its holdings in Schlumberger Limited by 14.2%, selling 8,518 shares and leaving them with $2.15 million in assets.
• Schlumberger's latest earnings report showed earnings per share of $0.74, exceeding estimates, but revenue was down by 6.5% compared to the previous year.
• The company recently announced a quarterly dividend of $0.285 per share, with an upcoming payout date on October 9th, reflecting an annualized yield of 3.1%.

OMERS ADMINISTRATION Corp decreased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 14.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,321 shares of the oil and gas company's stock after selling 8,518 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Schlumberger were worth $2,145,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SLB. Charles Schwab Investment Management Inc. grew its stake in shares of Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after buying an additional 39,474,501 shares during the last quarter. Boston Partners boosted its holdings in shares of Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Schlumberger by 211.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock valued at $250,507,000 after purchasing an additional 4,066,500 shares during the period. Nuveen LLC purchased a new stake in shares of Schlumberger in the first quarter valued at approximately $169,232,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Schlumberger by 3,112.1% in the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the period. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

SLB has been the subject of a number of research reports. UBS Group lowered their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Jefferies Financial Group lowered their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Melius Research began coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price for the company. Finally, Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Stock Up 2.3%

Shares of SLB traded up $0.82 during midday trading on Thursday, hitting $35.82. 6,298,433 shares of the company's stock traded hands, compared to its average volume of 16,130,622. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The firm's fifty day moving average is $34.67 and its 200-day moving average is $36.08. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The stock has a market capitalization of $48.40 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 10.22 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last released 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. 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 the consensus estimate of $8.51 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm's revenue was down 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

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.