Price T Rowe Associates Inc. MD Decreases Stock Holdings in Schlumberger Limited $SLB

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Schlumberger Limited by 2.3%, now holding approximately 74.2 million shares valued at over $3.1 billion.
• Schlumberger recently reported an EPS of $0.74 for the last quarter, beating analyst expectations, although its revenue decreased 6.5% year-over-year to $8.55 billion.
• The company declared a quarterly dividend of $0.285, representing a yield of 3.4%, with a payout ratio of 39.04%.

Price T Rowe Associates Inc. MD lessened its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,216,351 shares of the oil and gas company's stock after selling 1,769,844 shares during the period. Price T Rowe Associates Inc. MD owned approximately 5.46% of Schlumberger worth $3,102,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SLB. Brighton Jones LLC increased its position in Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after acquiring an additional 1,166 shares during the period. NewEdge Advisors LLC boosted its stake in Schlumberger by 25.6% during the fourth quarter. NewEdge Advisors LLC now owns 52,950 shares of the oil and gas company's stock worth $2,030,000 after acquiring an additional 10,791 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Schlumberger by 106.1% in the fourth quarter. First Trust Advisors LP now owns 1,360,818 shares of the oil and gas company's stock valued at $52,174,000 after buying an additional 700,412 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of Schlumberger by 6.4% in the fourth quarter. MML Investors Services LLC now owns 193,212 shares of the oil and gas company's stock valued at $7,408,000 after buying an additional 11,557 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Schlumberger by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 42,500 shares of the oil and gas company's stock valued at $1,629,000 after buying an additional 17,221 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of SLB stock traded up $1.7650 during trading hours on Friday, hitting $35.5750. 16,023,117 shares of the company's stock were exchanged, compared to its average volume of 12,135,544. The company has a market capitalization of $48.07 billion, a PE ratio of 12.18, a PEG ratio of 9.88 and a beta of 1.03. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.16. The business's 50 day simple moving average is $34.51 and its 200-day simple moving average is $36.33. 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 posted its quarterly earnings results 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. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business's revenue was down 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is presently 39.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLB. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Melius began coverage on shares of Schlumberger in a report on Wednesday. They issued a "buy" rating and a $82.00 target price for the company. Morgan Stanley decreased their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, Stifel Nicolaus decreased their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.