Earnest Partners LLC Boosts Stake in Schlumberger Limited $SLB

Key Points

• Earnest Partners LLC increased its stake in Schlumberger Limited by 5.3% in the first quarter, now holding 168,585 shares valued at approximately $7.05 million.
• Analyst ratings are mixed, with two analysts giving a Strong Buy rating and others adjusting target prices, resulting in an average rating of "Moderate Buy" with a consensus target price of $52.86.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, representing an annualized yield of 3.2%, with the payment date set for October 9th.

Earnest Partners LLC boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 5.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 168,585 shares of the oil and gas company's stock after purchasing an additional 8,532 shares during the period. Earnest Partners LLC's holdings in Schlumberger were worth $7,047,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Command Advisory Services Inc. grew its position in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Schlumberger in the 1st quarter worth about $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger in the 1st quarter worth about $34,000. Park Square Financial Group LLC bought a new position in shares of Schlumberger during the 1st quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Schlumberger during the 1st quarter valued at approximately $40,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Price Performance

NYSE SLB traded up $0.40 on Friday, hitting $36.88. The stock had a trading volume of 11,882,956 shares, compared to its average volume of 12,249,297. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market capitalization of $49.83 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 10.22 and a beta of 1.03. The firm has a 50-day moving average of $34.53 and a 200-day moving average of $36.20.

Schlumberger (NYSE:SLB - Get Free Report) last posted 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. 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 analysts' expectations of $8.51 billion. During the same period in the prior year, the company posted $0.85 EPS. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

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 paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.1%. Schlumberger's dividend payout ratio is currently 39.04%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLB. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Stifel Nicolaus reduced their target price 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. Barclays reduced their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Morgan Stanley reduced their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.86.

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.