Schlumberger Limited $SLB Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in Schlumberger Limited by 12.4%, now owning about 0.48% of the company, worth approximately $272.6 million.
• The company reported $0.74 earnings per share for the last quarter, exceeding estimates, despite a 6.5% year-over-year decline in revenue.
• Schlumberger has declared a quarterly dividend of $0.285 per share, reflecting a 3.3% yield, to be paid on October 9th.

Alliancebernstein L.P. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,521,338 shares of the oil and gas company's stock after selling 924,408 shares during the quarter. Alliancebernstein L.P. owned about 0.48% of Schlumberger worth $272,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLB. Banque Transatlantique SA raised its position in Schlumberger by 21,737.8% in the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company's stock worth $71,821,000 after acquiring an additional 1,850,760 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Schlumberger by 71.0% during the 1st quarter. AQR Capital Management LLC now owns 2,077,986 shares of the oil and gas company's stock valued at $86,642,000 after buying an additional 863,077 shares during the period. Ariel Investments LLC raised its stake in shares of Schlumberger by 5,096.5% during the 1st quarter. Ariel Investments LLC now owns 994,358 shares of the oil and gas company's stock worth $41,564,000 after purchasing an additional 975,223 shares in the last quarter. AlTi Global Inc. lifted its stake in Schlumberger by 6.2% in the first quarter. AlTi Global Inc. now owns 36,324 shares of the oil and gas company's stock valued at $1,519,000 after acquiring an additional 2,107 shares during the last quarter. Finally, Ancora Advisors LLC lifted its position in Schlumberger by 15.4% during the 1st quarter. Ancora Advisors LLC now owns 42,621 shares of the oil and gas company's stock worth $1,782,000 after acquiring an additional 5,682 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. JPMorgan Chase & Co. decreased their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Melius began coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target for the company. Finally, Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Two equities 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.86.

Schlumberger Stock Down 2.4%

SLB stock opened at $35.02 on Thursday. The stock has a market capitalization of $47.33 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 10.22 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $34.67 and a 200-day moving average price of $36.08. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15.

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

Schlumberger Dividend Announcement

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 dividend payout ratio (DPR) 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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