Schlumberger Limited $SLB is Samjo Management LLC's 7th Largest Position

Key Points

• Samjo Management LLC increased its holdings in Schlumberger Limited by 9.6% in Q1, making it the firm's 7th largest position worth $8.9 million.
• Recent analyst ratings for Schlumberger have resulted in a consensus rating of "Moderate Buy" with a target price of $52.86, despite several firms lowering their price objectives.
• Schlumberger reported $0.74 earnings per share for the most recent quarter, surpassing expectations, while also announcing a quarterly dividend of $0.285 per share.

Samjo Management LLC grew its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 9.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 213,030 shares of the oil and gas company's stock after acquiring an additional 18,585 shares during the period. Schlumberger comprises about 3.8% of Samjo Management LLC's holdings, making the stock its 7th largest holding. Samjo Management LLC's holdings in Schlumberger were worth $8,905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Cutler Capital Management LLC boosted its position in shares of Schlumberger by 89.3% during the first quarter. Cutler Capital Management LLC now owns 16,844 shares of the oil and gas company's stock valued at $704,000 after purchasing an additional 7,944 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Schlumberger by 13.2% during the 1st quarter. Kestra Advisory Services LLC now owns 68,405 shares of the oil and gas company's stock valued at $2,859,000 after buying an additional 7,968 shares in the last quarter. Allstate Corp grew its position in shares of Schlumberger by 33.6% in the 1st quarter. Allstate Corp now owns 56,459 shares of the oil and gas company's stock worth $2,360,000 after buying an additional 14,203 shares during the period. Compound Planning Inc. grew its position in shares of Schlumberger by 15.8% in the 1st quarter. Compound Planning Inc. now owns 12,534 shares of the oil and gas company's stock worth $524,000 after buying an additional 1,711 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Schlumberger by 1.1% during the 1st quarter. Ameriprise Financial Inc. now owns 2,194,141 shares of the oil and gas company's stock valued at $91,779,000 after acquiring an additional 22,976 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

SLB has been the topic of a number of recent research reports. Susquehanna cut their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Melius Research started coverage on Schlumberger in a report on Wednesday. They issued a "buy" rating and a $82.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Barclays dropped their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Finally, Stifel Nicolaus reduced 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and a consensus target price of $52.86.

Schlumberger Stock Up 5.2%

SLB opened at $35.5750 on Friday. The stock has a market capitalization of $48.07 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 9.38 and a beta of 1.03. The firm has a 50 day moving average price of $34.51 and a 200-day moving average price of $36.36. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 11.53% and a return on equity of 20.99%. The firm's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. Schlumberger's dividend payout ratio is currently 39.04%.

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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