Schlumberger Limited $SLB Shares Bought by RNC Capital Management LLC

Key Points

• RNC Capital Management LLC increased its holdings in Schlumberger Limited by 85.0% in the first quarter, owning a total of 56,376 shares valued at $2,357,000.
• Schlumberger recently reported $0.74 earnings per share, beating analyst expectations, and announced a quarterly dividend of $0.285 per share with a dividend yield of 3.2%.
• Analysts have mixed sentiments on Schlumberger, with ratings ranging from Strong Buy to Neutral, and an average price target of $52.86.

RNC Capital Management LLC raised its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 85.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 56,376 shares of the oil and gas company's stock after acquiring an additional 25,905 shares during the period. RNC Capital Management LLC's holdings in Schlumberger were worth $2,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SLB. First Command Advisory Services Inc. increased its holdings in shares of Schlumberger by 300.0% during the 1st 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 last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Schlumberger during the 1st quarter worth $33,000. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger during the 1st quarter worth $34,000. Park Square Financial Group LLC acquired a new stake in shares of Schlumberger during the 1st quarter worth $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth $40,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Down 0.6%

Shares of Schlumberger stock opened at $35.81 on Monday. The business has a 50-day moving average of $34.75 and a 200-day moving average of $35.90. 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 company has a market capitalization of $48.38 billion, a PE ratio of 12.26, a P/E/G ratio of 9.94 and a beta of 1.05. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15.

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 for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during 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 revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. As a group, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal 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 3.2%. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SLB shares. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. UBS Group decreased their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Piper Sandler decreased their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Finally, Morgan Stanley decreased their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.86.

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.

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