ST Germain D J Co. Inc. Boosts Stock Position in Schlumberger Limited $SLB

Key Points

• ST Germain D J Co. Inc. increased its holdings in Schlumberger Limited by 5.1%, now owning 744,876 shares valued at approximately $25.2 million.
• Schlumberger's quarterly earnings report showed earnings per share of $0.74, surpassing analysts' estimates, although revenue declined by 6.5% year-over-year.
• The company announced a quarterly dividend of $0.285, with a dividend yield of 3.3% and a payout ratio of 39.04% as part of its commitment to returning value to shareholders.

ST Germain D J Co. Inc. grew its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 744,876 shares of the oil and gas company's stock after purchasing an additional 36,221 shares during the quarter. Schlumberger makes up 1.1% of ST Germain D J Co. Inc.'s investment portfolio, making the stock its 27th largest holding. ST Germain D J Co. Inc. owned 0.05% of Schlumberger worth $25,177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Command Advisory Services Inc. increased its holdings in 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 buying an additional 477 shares during the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of Schlumberger during the 2nd quarter worth approximately $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of Schlumberger in the 1st quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Schlumberger by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Schlumberger during the first quarter valued at $34,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

SLB opened at $34.57 on Friday. 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 stock has a market capitalization of $51.63 billion, a P/E ratio of 11.84, a PEG ratio of 9.61 and a beta of 1.05. The stock has a 50-day moving average price of $34.60 and a 200-day moving average price of $35.43. 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 released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the previous year, the company posted $0.85 EPS. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Analyst Ratings Changes

SLB has been the topic of a number of recent research reports. Piper Sandler dropped their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Susquehanna cut their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Melius Research assumed coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, JPMorgan Chase & Co. cut their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.18.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.