Russell Investments Group Ltd. Has $78.32 Million Holdings in Schlumberger Limited (NYSE:SLB)

Key Points

• Russell Investments Group Ltd. sold 261,166 shares of Schlumberger Limited, reducing its holdings by 12.2% in the first quarter, leaving it with 1,873,495 shares valued at approximately $78.3 million.
• In contrast, Charles Schwab Investment Management Inc. increased its stake by 478.8%, now owning nearly 48 million shares worth about $1.99 billion.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, resulting in an annualized yield of 3.5%, with a payout ratio of 39.04%.

Russell Investments Group Ltd. reduced its position in Schlumberger Limited (NYSE:SLB - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,873,495 shares of the oil and gas company's stock after selling 261,166 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Schlumberger worth $78,318,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Command Advisory Services Inc. increased its position in Schlumberger by 300.0% in the 1st 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 in the 1st quarter worth about $33,000. Alpine Bank Wealth Management acquired a new position in Schlumberger in the 1st quarter worth about $34,000. Park Square Financial Group LLC acquired a new position in Schlumberger in the 1st quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Schlumberger in the 1st quarter worth about $40,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director owned 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

NYSE:SLB traded down $0.31 during mid-day trading on Thursday, hitting $33.24. 16,282,212 shares of the company's stock traded hands, compared to its average volume of 18,124,866. The firm has a 50 day moving average of $34.69 and a two-hundred day moving average of $36.65. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.16. The firm has a market capitalization of $44.92 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 9.31 and a beta of 1.03. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.4%. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research reports. JPMorgan Chase & Co. dropped 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. Piper Sandler lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Jefferies Financial Group lowered their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Susquehanna lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.