Ascent Group LLC Has $1.46 Million Stock Position in Schlumberger Limited $SLB

Key Points

• Ascent Group LLC increased its stake in Schlumberger Limited by 71.8% in the first quarter, owning 34,941 shares worth approximately $1.46 million.
• Schlumberger reported a net margin of 11.53% and a return on equity of 20.99% in its latest earnings, with revenue of $8.55 billion for the quarter.
• The company announced a quarterly dividend of $0.285 per share, equating to a 3.2% dividend yield, set to be paid on October 9th.

Ascent Group LLC lifted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 71.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,941 shares of the oil and gas company's stock after acquiring an additional 14,599 shares during the period. Ascent Group LLC's holdings in Schlumberger were worth $1,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. grew its stake in Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Schlumberger during the 1st quarter worth $33,000. Alpine Bank Wealth Management bought a new position in Schlumberger during the 1st quarter worth $34,000. Park Square Financial Group LLC bought a new position in Schlumberger during the 1st quarter worth $38,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Schlumberger during the 4th quarter worth $40,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Down 1.2%

SLB stock traded down $0.45 during mid-day trading on Friday, hitting $35.58. The stock had a trading volume of 13,476,657 shares, compared to its average volume of 13,681,992. 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 Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The company has a fifty day moving average of $34.82 and a 200 day moving average of $35.75. The stock has a market capitalization of $53.14 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 10.00 and a beta of 1.05.

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, beating 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 return on equity of 20.99% and a net margin of 11.53%.The firm's revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. Schlumberger's dividend payout ratio is presently 39.04%.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% 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. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Jefferies Financial Group decreased their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. JPMorgan Chase & Co. cut their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. UBS Group reduced their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Melius Research started coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.86.

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.