Peloton Wealth Strategists Acquires Shares of 7,750 Schlumberger Limited $SLB

Key Points

• Peloton Wealth Strategists acquired 7,750 shares of Schlumberger Limited (NYSE: SLB) in the first quarter, valued at approximately $324,000.
• Schlumberger reported $0.74 EPS for the quarter, exceeding analysts' expectations of $0.73, despite a revenue decline of 6.5% year-over-year.
• The company announced a quarterly dividend of $0.285 per share, translating to a yield of 3.2%, with a dividend payout ratio of 39.04%.

Peloton Wealth Strategists acquired a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,750 shares of the oil and gas company's stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Schlumberger during the first quarter valued at approximately $169,232,000. Scharf Investments LLC raised its stake in Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after buying an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC raised its stake in Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after buying an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. acquired a new stake in Schlumberger during the first quarter valued at approximately $308,000. Finally, Stratos Investment Management LLC raised its stake in Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after buying an additional 103,182 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Down 0.2%

SLB opened at $35.77 on Tuesday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market cap of $48.33 billion, a P/E ratio of 12.25, a P/E/G ratio of 9.94 and a beta of 1.05. The stock's 50 day moving average price is $34.79 and its 200 day moving average price is $35.86.

Schlumberger (NYSE:SLB - Get Free Report) last posted its 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. 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 analysts' expectations of $8.51 billion. During the same period last year, the firm earned $0.85 EPS. The firm's 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. 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 Upgrades and Downgrades

A number of brokerages have recently weighed in on SLB. Barclays dropped their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. 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 report on Monday, June 30th. 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 report on Friday, July 18th. Susquehanna dropped their price target on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Finally, Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.