Swiss National Bank Has $166.48 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Key Points

• The Swiss National Bank reduced its stake in Schlumberger Limited by 0.7%, now holding approximately 3.98 million shares valued at $166.48 million.
• In recent trading, Schlumberger's shares opened at $32.90, with the company reporting a quarterly earnings per share (EPS) of $0.74, surpassing estimates.
• Schlumberger has declared a quarterly dividend of $0.285 per share, with a dividend yield of 3.5%, to be paid on October 9th.

Swiss National Bank cut its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,982,827 shares of the oil and gas company's stock after selling 28,200 shares during the period. Swiss National Bank owned approximately 0.29% of Schlumberger worth $166,482,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Scharf Investments LLC boosted its holdings in Schlumberger by 20.5% in the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC boosted its holdings in Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new stake in Schlumberger in the first quarter worth $308,000. Stratos Investment Management LLC boosted its holdings in Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after acquiring an additional 103,182 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Schlumberger during the fourth quarter valued at about $56,507,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Up 0.8%

SLB traded up $0.27 during trading on Wednesday, reaching $33.21. 5,190,537 shares of the company's stock were exchanged, compared to its average volume of 16,400,799. The company's fifty day moving average price is $34.68 and its 200-day moving average price is $36.74. The firm has a market capitalization of $44.87 billion, a PE ratio of 11.37, a P/E/G ratio of 8.98 and a beta of 1.03. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous 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 year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is presently 39.04%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SLB shares. Barclays decreased their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, July 21st. 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 report on Monday, June 30th. Susquehanna decreased their price target 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. 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 report on Friday, May 16th. Finally, Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.28.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company's stock.

Schlumberger Company 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.