Schlumberger Limited (NYSE:SLB) Shares Bought by Boston Partners

Key Points

• Boston Partners has increased its holdings in Schlumberger by 27.7%, now owning nearly 20 million shares valued at over $824 million, making it the company's 16th largest position.
• Schlumberger has announced a quarterly dividend of $0.285 per share, with a yield of 3.5%, to be paid on October 9th.
• Several brokerages have updated their ratings on Schlumberger, with current consensus ratings reflecting a “Moderate Buy” and an average price target of $49.28.

Boston Partners increased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 27.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,829,381 shares of the oil and gas company's stock after purchasing an additional 4,300,222 shares during the period. Schlumberger makes up about 1.0% of Boston Partners' investment portfolio, making the stock its 16th largest position. Boston Partners owned about 1.46% of Schlumberger worth $824,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Command Advisory Services Inc. boosted its stake in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger during the first quarter valued at $33,000. Alpine Bank Wealth Management purchased a new stake in shares of Schlumberger during the first quarter valued at $34,000. Park Square Financial Group LLC purchased a new stake in shares of Schlumberger during the first quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Schlumberger during the first quarter valued at $40,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Down 0.9%

Schlumberger stock traded down $0.31 during trading hours on Thursday, reaching $33.24. The stock had a trading volume of 16,282,212 shares, compared to its average volume of 18,124,866. The company has a market cap of $44.92 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 9.31 and a beta of 1.03. 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's 50 day moving average price is $34.69 and its 200-day moving average price is $36.65. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.16.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. Schlumberger's dividend payout ratio is 39.04%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SLB shares. Piper Sandler lowered their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Barclays lowered their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Wells Fargo & Company lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.28.

About Schlumberger

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.