Schlumberger Limited $SLB Stock Holdings Boosted by Twin Tree Management LP

Key Points

• Twin Tree Management LP increased its stake in Schlumberger Limited by 766.9% in the first quarter, now owning 13,870 shares valued at approximately $580,000.
• Schlumberger reported $0.74 earnings per share for the last quarter, exceeding analysts' expectations, despite a 6.5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.285, representing a yield of 3.1%, with a payout ratio of 39.04%.

Twin Tree Management LP lifted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 766.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,870 shares of the oil and gas company's stock after acquiring an additional 12,270 shares during the period. Twin Tree Management LP's holdings in Schlumberger were worth $580,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SLB. First Command Advisory Services Inc. grew its position in shares of Schlumberger by 300.0% during 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 last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger during the first quarter worth about $33,000. Alpine Bank Wealth Management bought a new position in shares of Schlumberger during the first quarter worth about $34,000. Park Square Financial Group LLC bought a new position in shares of Schlumberger during the first quarter worth about $38,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger during the fourth quarter worth about $40,000. Institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $36.88 on Tuesday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15. 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 company has a market capitalization of $49.83 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 10.22 and a beta of 1.05. The firm has a 50-day moving average of $34.59 and a two-hundred day moving average of $36.09.

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

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is presently 39.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley decreased their target price 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. Melius began coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. Piper Sandler decreased their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Stifel Nicolaus decreased their price objective 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. Finally, Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Two 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.86.

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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