Cutler Capital Management LLC Purchases 7,944 Shares of Schlumberger Limited $SLB

Key Points

• Cutler Capital Management LLC increased its stake in Schlumberger Limited by 89.3%, acquiring an additional 7,944 shares, bringing its total holdings to 16,844 shares valued at $704,000.
• Major institutional investors like Charles Schwab Investment Management Inc. and Deutsche Bank AG have significantly boosted their positions in Schlumberger, contributing to 81.99% of the stock being held by hedge funds and other institutional investors.
• Schlumberger recently declared a quarterly dividend of $0.285 per share, yielding 3.4%, with the ex-dividend date set for September 3rd.

Cutler Capital Management LLC raised its position in Schlumberger Limited (NYSE:SLB - Free Report) by 89.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,844 shares of the oil and gas company's stock after buying an additional 7,944 shares during the quarter. Cutler Capital Management LLC's holdings in Schlumberger were worth $704,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Boston Partners increased its position in shares of Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after buying an additional 4,300,222 shares during the period. Nuveen LLC acquired a new stake in shares of Schlumberger during the first quarter worth $169,232,000. Lazard Asset Management LLC increased its position in shares of Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock worth $139,059,000 after buying an additional 3,514,134 shares during the period. Finally, Deutsche Bank AG boosted its stake in Schlumberger by 12.2% during the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SLB shares. Stifel Nicolaus cut their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Barclays lowered their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Susquehanna lowered 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. Two investment 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Stock Performance

Shares of NYSE:SLB traded up $1.7650 during midday trading on Friday, reaching $35.5750. The company had a trading volume of 16,023,117 shares, compared to its average volume of 12,363,398. The company's 50 day moving average price is $34.51 and its 200 day moving average price is $36.30. 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 stock has a market cap of $48.07 billion, a P/E ratio of 12.18, a P/E/G ratio of 9.88 and a beta of 1.03. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (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 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Schlumberger 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.