Schlumberger Limited $SLB Shares Acquired by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in Schlumberger Limited by 211.1% during the first quarter, acquiring an additional 4,066,500 shares to reach a total of nearly 6 million shares.
• Schlumberger reported earnings of $0.74 per share for the last quarter, exceeding the consensus estimate of $0.73, but revenue decreased by 6.5% year-over-year.
• The oil and gas company announced a quarterly dividend of $0.285 per share, with a dividend yield of 3.2%, set to be paid out on October 9th.

Hotchkis & Wiley Capital Management LLC grew its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 211.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,992,997 shares of the oil and gas company's stock after purchasing an additional 4,066,500 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.44% of Schlumberger worth $250,507,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SLB. Cadence Bank increased its holdings in Schlumberger by 4.8% in the 1st quarter. Cadence Bank now owns 181,074 shares of the oil and gas company's stock worth $7,569,000 after acquiring an additional 8,251 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Schlumberger by 2.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 23,226 shares of the oil and gas company's stock worth $973,000 after acquiring an additional 450 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Schlumberger by 54.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 157,914 shares of the oil and gas company's stock worth $6,601,000 after acquiring an additional 55,437 shares in the last quarter. Samjo Management LLC increased its holdings in Schlumberger by 9.6% in the 1st quarter. Samjo Management LLC now owns 213,030 shares of the oil and gas company's stock worth $8,905,000 after acquiring an additional 18,585 shares in the last quarter. Finally, Cutler Capital Management LLC increased its holdings in Schlumberger by 89.3% in the 1st quarter. Cutler Capital Management LLC now owns 16,844 shares of the oil and gas company's stock worth $704,000 after acquiring an additional 7,944 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.2%

Shares of NYSE:SLB traded up $0.06 during midday trading on Monday, reaching $35.67. 7,947,893 shares of the company's stock were exchanged, compared to its average volume of 12,363,398. The firm's 50 day simple moving average is $34.51 and its two-hundred day simple moving average is $36.27. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market cap of $48.20 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 9.88 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared 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. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

Analyst Ratings Changes

Several brokerages recently commented on SLB. Jefferies Financial Group cut their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Stifel Nicolaus cut their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Melius Research started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. Susquehanna lowered their target price 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, Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.