Schlumberger Limited $SLB Holdings Lowered by Teza Capital Management LLC

Key Points

• Teza Capital Management LLC reduced its holdings in Schlumberger Limited by 47.1%, bringing its total shares to 28,190, valued at approximately $1.18 million.
• Institutional investors now hold 81.99% of Schlumberger's stock, with notable increases from firms like Charles Schwab Investment Management Inc., which boosted their holdings by 478.8% during the first quarter.
• Schlumberger reported quarterly earnings of $0.74 per share, exceeding analyst expectations and declaring a quarterly dividend of $0.285 per share, representing a 3.2% dividend yield.

Teza Capital Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 47.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,190 shares of the oil and gas company's stock after selling 25,101 shares during the quarter. Teza Capital Management LLC's holdings in Schlumberger were worth $1,178,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. increased its stake 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 valued at $27,000 after purchasing an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in Schlumberger during the first quarter valued at $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger during the first quarter valued at $34,000. Park Square Financial Group LLC bought a new stake in Schlumberger during the first quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Schlumberger during the first quarter valued at $40,000. Institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of SLB traded down $0.40 during midday trading on Friday, reaching $35.63. The stock had a trading volume of 4,828,595 shares, compared to its average volume of 16,144,855. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market capitalization of $53.21 billion, a P/E ratio of 12.20, a P/E/G ratio of 10.03 and a beta of 1.05. The firm's 50 day moving average price is $34.82 and its 200-day moving average price is $35.82. Schlumberger Limited has a 52 week low of $31.11 and a 52 week 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 (EPS) 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 firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period in the previous year, the company earned $0.85 earnings per share. Schlumberger's revenue was down 6.5% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. Schlumberger's dividend payout ratio is currently 39.04%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Piper Sandler reduced their price target 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. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Melius initiated coverage on shares of Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently 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.