Mitsubishi UFJ Asset Management Co. Ltd. Purchases 293,469 Shares of Schlumberger Limited (NYSE:SLB)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Schlumberger by 12.5% during the first quarter, now owning approximately 2.6 million shares worth about $110.2 million.
• Analysts have mixed ratings on Schlumberger, with a consensus price target of $49.28 and several firms adjusting their target prices, reflecting a range of views from "overweight" to "strong buy".
• Schlumberger announced a quarterly dividend of $0.285 per share, amounting to an annualized yield of 3.5%, to be paid to shareholders on October 9th.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 12.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,637,274 shares of the oil and gas company's stock after purchasing an additional 293,469 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Schlumberger worth $110,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SLB. Brighton Jones LLC lifted its stake 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 worth $253,000 after purchasing an additional 1,166 shares in the last quarter. World Investment Advisors lifted its stake in Schlumberger by 12.2% in the 4th quarter. World Investment Advisors now owns 5,582 shares of the oil and gas company's stock worth $215,000 after purchasing an additional 609 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Schlumberger by 11.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,258,554 shares of the oil and gas company's stock worth $48,253,000 after purchasing an additional 131,586 shares in the last quarter. Invesco Ltd. lifted its stake in Schlumberger by 8.8% in the 4th quarter. Invesco Ltd. now owns 7,377,240 shares of the oil and gas company's stock worth $282,843,000 after purchasing an additional 596,008 shares in the last quarter. Finally, Advisory Services Network LLC lifted its stake in Schlumberger by 15.3% in the 4th quarter. Advisory Services Network LLC now owns 72,977 shares of the oil and gas company's stock worth $2,798,000 after purchasing an additional 9,672 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Susquehanna lowered their target price on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. dropped their price objective 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. Piper Sandler dropped their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Finally, Stifel Nicolaus dropped 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. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $49.28.

Schlumberger Trading Up 0.3%

Schlumberger stock traded up $0.11 during trading hours on Friday, reaching $32.90. The stock had a trading volume of 10,215,438 shares, compared to its average volume of 19,141,180. The stock has a market cap of $44.46 billion, a PE ratio of 11.27, a PEG ratio of 9.12 and a beta of 1.03. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.16. 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 company has a fifty day simple moving average of $34.72 and a 200-day simple moving average of $36.87.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly 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 for 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 company's revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. Analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Transactions at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger 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 sale, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

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.