Jump Financial LLC Has $1.56 Million Stock Holdings in Schlumberger Limited $SLB

Key Points

• Jump Financial LLC drastically cut its stake in Schlumberger Limited by 90.7%, selling 365,170 shares and now holding 37,326 shares valued at approximately $1.56 million.
• Schlumberger's stock has a consensus rating of "Moderate Buy" from analysts, with an average target price of $52.86, despite several price target reductions from prominent analysts.
• The company recently announced a quarterly dividend of $0.285, resulting in an annualized dividend yield of 3.1%, with a payout ratio of 39.04%.

Jump Financial LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 90.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,326 shares of the oil and gas company's stock after selling 365,170 shares during the period. Jump Financial LLC's holdings in Schlumberger were worth $1,560,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Schlumberger by 12.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,362,401 shares of the oil and gas company's stock valued at $52,234,000 after purchasing an additional 146,675 shares during the last quarter. AQR Capital Management LLC raised its stake in Schlumberger by 113.2% during the 4th quarter. AQR Capital Management LLC now owns 1,214,909 shares of the oil and gas company's stock valued at $46,397,000 after purchasing an additional 644,979 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Schlumberger by 994.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 233,542 shares of the oil and gas company's stock valued at $8,954,000 after purchasing an additional 212,210 shares during the last quarter. Finally, Bison Wealth LLC acquired a new position in Schlumberger during the 4th quarter valued at $238,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SLB. Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Barclays cut their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Piper Sandler dropped their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Melius Research began coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Price Performance

NYSE:SLB traded down $0.62 during mid-day trading on Wednesday, reaching $35.00. 2,440,165 shares of the company were exchanged, compared to its average volume of 16,103,159. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The company has a fifty day moving average of $34.64 and a 200 day moving average of $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. The stock has a market cap of $47.30 billion, a PE ratio of 12.01, a PEG ratio of 10.22 and a beta of 1.05.

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

Schlumberger Announces Dividend

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 $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend 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.