Schlumberger Limited $SLB Shares Acquired by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC increased its stake in Schlumberger Limited by 25.8% during the 2nd quarter, bringing its total ownership to 2,518,002 shares, valued at approximately $85.25 million.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, equating to an annual yield of 3.3%, with payment to stockholders on October 9th.
• Equity analysts have varied opinions on Schlumberger, with ratings ranging from "Strong Buy" to "Hold," and an average target price currently set at $52.18.

DAVENPORT & Co LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 25.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,518,002 shares of the oil and gas company's stock after purchasing an additional 516,887 shares during the quarter. DAVENPORT & Co LLC owned 0.19% of Schlumberger worth $85,252,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SLB. First Command Advisory Services Inc. increased its stake in shares of Schlumberger by 300.0% during the first 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 period. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger in the 1st quarter valued at approximately $33,000. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger in the 1st quarter valued at $34,000. Atticus Wealth Management LLC acquired a new stake in shares of Schlumberger in the 2nd quarter valued at $29,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Schlumberger during the 1st quarter worth $38,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction dated 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 transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stifel Nicolaus dropped their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Piper Sandler decreased their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Susquehanna dropped their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Finally, Melius Research began coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Trading Up 0.4%

SLB opened at $34.26 on Monday. 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 Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The business's 50 day moving average is $34.63 and its two-hundred day moving average is $35.10. The firm has a market cap of $51.17 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 9.51 and a beta of 0.97.

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 (EPS) for the quarter, topping 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 business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the firm posted $0.85 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend yield of 3.3%. Schlumberger's dividend payout ratio is 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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