Quarry LP Sells 8,227 Shares of Schlumberger Limited $SLB

Key Points

• Quarry LP has reduced its holdings in Schlumberger Limited by 43.6%, selling 8,227 shares to bring its total to 10,632 shares, valued at approximately $444,000.
• Several hedge funds significantly increased their positions in Schlumberger, with Charles Schwab Investment Management increasing holdings by 478.8% in the 1st quarter, totaling nearly $1.99 billion.
• Schlumberger announced a quarterly dividend of $0.285, representing an annualized dividend of $1.14 with a yield of 3.1%, payable on October 9th to shareholders of record on September 3rd.

Quarry LP trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 43.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,632 shares of the oil and gas company's stock after selling 8,227 shares during the period. Quarry LP's holdings in Schlumberger were worth $444,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Schlumberger by 21.4% during 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 during the last quarter. Bison Wealth LLC bought a new position in Schlumberger during the 4th quarter worth $238,000. AlTi Global Inc. raised its position in Schlumberger by 3.5% during the 4th quarter. AlTi Global Inc. now owns 34,217 shares of the oil and gas company's stock worth $1,312,000 after purchasing an additional 1,169 shares during the last quarter. Aptus Capital Advisors LLC raised its position in Schlumberger by 17.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 125,603 shares of the oil and gas company's stock worth $4,818,000 after purchasing an additional 18,433 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in Schlumberger by 222.0% during the 4th quarter. Ancora Advisors LLC now owns 36,939 shares of the oil and gas company's stock worth $1,416,000 after purchasing an additional 25,468 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. UBS Group decreased 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. Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Melius Research started coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Melius started coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Stock Performance

SLB stock traded up $0.99 during midday trading on Thursday, reaching $35.99. 12,329,353 shares of the company's stock traded hands, compared to its average volume of 16,168,477. The company has a 50-day moving average price of $34.67 and a two-hundred day moving average price of $36.08. The firm has a market capitalization of $48.64 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 10.22 and a beta of 1.05. 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 52 week low of $31.11 and a 52 week high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given 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 39.04%.

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.