Qtron Investments LLC Trims Stock Position in Schlumberger Limited $SLB

Key Points

• Qtron Investments LLC has reduced its stake in Schlumberger Limited by 47.6%, selling 11,659 shares and now holding 12,850 shares valued at approximately $537,000.
• Schlumberger reported earnings of $0.74 per share for the last quarter, exceeding expectations, with revenue of $8.55 billion despite a 6.5% year-over-year decline.
• The company has announced a quarterly dividend of $0.285, reflecting an annualized dividend yield of 3.4%, to be paid on October 9th to shareholders of record on September 3rd.

Qtron Investments LLC trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 47.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,850 shares of the oil and gas company's stock after selling 11,659 shares during the period. Qtron Investments LLC's holdings in Schlumberger were worth $537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SLB. Brighton Jones LLC lifted its holdings in shares of Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after purchasing an additional 1,166 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Schlumberger by 8.2% in the 4th quarter. CreativeOne Wealth LLC now owns 5,320 shares of the oil and gas company's stock worth $204,000 after purchasing an additional 405 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of 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. GeoWealth Management LLC increased its position in shares of Schlumberger by 106.4% during the fourth quarter. GeoWealth Management LLC now owns 9,001 shares of the oil and gas company's stock worth $345,000 after acquiring an additional 4,641 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Schlumberger by 106.1% during the fourth quarter. First Trust Advisors LP now owns 1,360,818 shares of the oil and gas company's stock worth $52,174,000 after acquiring an additional 700,412 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

NYSE:SLB traded up $1.7650 during trading hours on Friday, reaching $35.5750. The stock had a trading volume of 16,023,117 shares, compared to its average volume of 16,241,825. The stock has a market cap of $48.07 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 9.26 and a beta of 1.03. The stock has a 50 day simple moving average of $34.53 and a 200 day simple moving average of $36.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.16.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly 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 net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company's quarterly revenue was down 6.5% compared to the same quarter last year. On average, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLB. Jefferies Financial Group lowered their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Susquehanna decreased their price target on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Melius started coverage on Schlumberger in a research note on Wednesday. They set a "buy" rating and a $82.00 price objective on the stock. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $52.86.

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.