Schlumberger Limited (NYSE:SLB) Stock Holdings Increased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Schlumberger by 8.1% in the first quarter, owning 464,006 shares worth approximately $19.4 million.
• Institutional investors own 81.99% of Schlumberger, with several firms, including Charles Schwab and Lazard Asset Management, significantly boosting their stakes.
• Schlumberger announced a quarterly dividend of $0.285 per share, reflecting an annual yield of 3.5% and a payout ratio of 39.04%.

Resona Asset Management Co. Ltd. grew its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 464,006 shares of the oil and gas company's stock after buying an additional 34,808 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Schlumberger were worth $19,401,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. First Command Advisory Services Inc. raised its holdings 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 purchasing an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Schlumberger during the first quarter worth $33,000. Alpine Bank Wealth Management acquired a new position in Schlumberger during the first quarter worth $34,000. Park Square Financial Group LLC acquired a new position in Schlumberger during the first quarter worth $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Schlumberger during the first quarter worth $40,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 0.9%

SLB stock traded down $0.31 during trading on Thursday, reaching $33.24. 16,282,212 shares of the stock traded hands, compared to its average volume of 18,124,866. 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. 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 firm has a market capitalization of $44.92 billion, a PE ratio of 11.38, a P/E/G ratio of 9.31 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The firm's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 3.4%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Insider Activity at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was 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. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Barclays dropped their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Piper Sandler dropped their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Finally, Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average price target of $49.28.

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.