Titleist Asset Management LLC Sells 15,309 Shares of Schlumberger Limited $SLB

Key Points

• Titleist Asset Management LLC has cut its stake in Schlumberger Limited by 17.5%, now holding 72,245 shares valued at approximately $3,020,000.
• Schlumberger's earnings per share for the last quarter was reported at $0.74, slightly exceeding analysts' expectations of $0.73, while year-over-year revenue decreased by 6.5%.
• The company has declared a quarterly dividend of $0.285 per share, which equates to an annual yield of 3.1%.

Titleist Asset Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 17.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,245 shares of the oil and gas company's stock after selling 15,309 shares during the period. Titleist Asset Management LLC's holdings in Schlumberger were worth $3,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Brighton Jones LLC increased its position in shares of Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after buying an additional 1,166 shares during the period. AQR Capital Management LLC raised its position in Schlumberger by 113.2% in 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 buying an additional 644,979 shares during the last quarter. Bison Wealth LLC purchased a new stake in Schlumberger in the 4th quarter valued at $238,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in Schlumberger by 47.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,236,836 shares of the oil and gas company's stock worth $47,420,000 after purchasing an additional 400,300 shares during the period. Finally, Wahed Invest LLC raised its holdings in shares of Schlumberger by 0.9% in the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock valued at $1,343,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research reports. Melius Research initiated coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Susquehanna decreased their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group decreased their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Finally, Piper Sandler decreased their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Two equities research 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Trading Down 1.7%

Shares of SLB stock traded down $0.60 during trading hours on Wednesday, reaching $35.02. The company's stock had a trading volume of 11,588,397 shares, compared to its average volume of 16,161,597. The stock has a market capitalization of $47.33 billion, a P/E ratio of 11.99, a P/E/G ratio of 10.22 and a beta of 1.05. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The firm's fifty day simple moving average is $34.64 and its 200 day simple moving average is $36.08. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. Equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

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

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.