Energy Income Partners LLC Buys 119,120 Shares of Schlumberger Limited $SLB

Key Points

• Energy Income Partners LLC has increased its holdings in Schlumberger Limited ($SLB) by 31.3%, accumulating a total of 500,003 shares worth approximately $20.9 million.
• Schlumberger's latest quarterly earnings showed an EPS of $0.74, exceeding estimates, although revenue decreased by 6.5% year-over-year.
• The company recently declared a quarterly dividend of $0.285 per share, reflecting a 3.1% dividend yield.

Energy Income Partners LLC lifted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 31.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,003 shares of the oil and gas company's stock after acquiring an additional 119,120 shares during the period. Energy Income Partners LLC's holdings in Schlumberger were worth $20,900,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Command Advisory Services Inc. boosted its holdings in shares of Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Schlumberger during the first quarter valued at $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger during the first quarter valued at $34,000. Park Square Financial Group LLC bought a new stake in Schlumberger during the first quarter valued at $38,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Schlumberger during the fourth quarter valued at $40,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Barclays dropped their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Melius assumed coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Trading Down 2.4%

Shares of SLB traded down $0.88 during trading hours on Wednesday, hitting $35.02. The company had a trading volume of 11,588,707 shares, compared to its average volume of 11,395,032. The firm has a market cap of $47.33 billion, a P/E ratio of 11.99, a P/E/G ratio of 10.22 and a beta of 1.05. The stock's 50 day moving average price is $34.64 and its 200 day moving average price is $36.08. 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.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. On average, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared 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 yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio 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.