Schlumberger Limited (NYSE:SLB) Stake Increased by Mitsubishi UFJ Asset Management UK Ltd.

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Schlumberger Limited by 100% during the first quarter, owning 26,000 shares worth approximately $1.09 million by the end of the reporting period.
• Schlumberger reported $0.74 earnings per share for the last quarter, slightly exceeding analysts' expectations, though revenue decreased by 6.5% year-over-year, totaling $8.55 billion.
• The company declared a quarterly dividend of $0.285 per share, representing an annualized yield of 3.4%, with the ex-dividend date set for September 3rd.

Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 100.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,000 shares of the oil and gas company's stock after buying an additional 13,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Schlumberger were worth $1,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vident Advisory LLC increased its stake in shares of Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after buying an additional 273 shares during the last quarter. Glen Eagle Advisors LLC increased its stake in shares of Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after buying an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas increased its stake in Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after purchasing an additional 318 shares during the last quarter. Wahed Invest LLC increased its stake in Schlumberger by 0.9% during the fourth quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock valued at $1,343,000 after purchasing an additional 319 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Schlumberger by 2.0% during the first quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company's stock valued at $704,000 after purchasing an additional 336 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $33.54 on Thursday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $45.32 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 9.14 and a beta of 1.03. The firm has a 50-day moving average of $34.68 and a two-hundred day moving average of $36.72.

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

Schlumberger Announces Dividend

The firm 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 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is presently 39.04%.

Insiders Place Their Bets

In other Schlumberger 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 value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This 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 this hyperlink. Insiders own 0.26% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays lowered their target price 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. Jefferies Financial Group lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. UBS Group boosted their target price on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Finally, Stifel Nicolaus lowered their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Four 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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