Quantitative Investment Management LLC Makes New $1.23 Million Investment in Schlumberger Limited $SLB

Key Points

• Quantitative Investment Management LLC has made a new investment of approximately $1.23 million in Schlumberger Limited, acquiring 29,365 shares in the first quarter.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, with an annualized yield of 3.2% set to be paid on October 9th.
• Analysts have varied opinions on Schlumberger, with a consensus rating of "Moderate Buy" and a target price of approximately $52.86 according to research reports.

Quantitative Investment Management LLC bought a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 29,365 shares of the oil and gas company's stock, valued at approximately $1,227,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Schlumberger by 478.8% in 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 period. Deutsche Bank AG increased its stake in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after buying an additional 3,119,543 shares during the period. Boston Partners increased its stake 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 buying an additional 4,300,222 shares during the period. Northern Trust Corp increased its stake in shares of Schlumberger by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after buying an additional 604,832 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Schlumberger by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after buying an additional 1,667,203 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

NYSE:SLB opened at $35.5750 on Monday. 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 business has a fifty day simple moving average of $34.51 and a two-hundred day simple moving average of $36.30. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.16. The company has a market capitalization of $48.07 billion, a P/E ratio of 12.18, a P/E/G ratio of 9.88 and a beta of 1.03.

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, topping analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share. On average, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

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 dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is presently 39.04%.

Analyst Ratings Changes

SLB has been the subject of several recent research reports. Melius Research initiated coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target for the company. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Melius initiated coverage on Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Finally, Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Two equities 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. Based on data from MarketBeat, the stock currently has a consensus 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.

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