Schlumberger Limited $SLB Shares Sold by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management L.P. has reduced its stake in Schlumberger Limited by 4.4%, selling 18,963 shares, leaving them with 414,239 shares worth approximately $17.3 million.
• Schlumberger recently reported quarterly earnings with an EPS of $0.74, exceeding expectations, but showed a 6.5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.285 per share, with an annualized yield of 3.5%, to be paid on October 9th.

Tocqueville Asset Management L.P. decreased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 414,239 shares of the oil and gas company's stock after selling 18,963 shares during the period. Tocqueville Asset Management L.P.'s holdings in Schlumberger were worth $17,315,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Schlumberger by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock worth $375,738,000 after acquiring an additional 1,667,203 shares during the last quarter. Black Cypress Capital Management LLC boosted its position in Schlumberger by 11.6% in the first quarter. Black Cypress Capital Management LLC now owns 197,798 shares of the oil and gas company's stock valued at $8,268,000 after buying an additional 20,583 shares during the last quarter. Horizon Investments LLC boosted its position in Schlumberger by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock valued at $946,000 after buying an additional 330 shares during the last quarter. Providence Capital Advisors LLC boosted its position in Schlumberger by 2.3% in the first quarter. Providence Capital Advisors LLC now owns 183,853 shares of the oil and gas company's stock valued at $7,685,000 after buying an additional 4,146 shares during the last quarter. Finally, Inspire Trust Co. N.A. purchased a new stake in Schlumberger in the first quarter valued at approximately $4,096,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

NYSE SLB traded up $0.3450 during mid-day trading on Thursday, hitting $33.7050. The stock had a trading volume of 3,512,719 shares, compared to its average volume of 16,192,931. The firm's 50 day moving average is $34.56 and its 200 day moving average is $36.44. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. 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 stock has a market capitalization of $45.54 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 9.25 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate 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 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. The firm's revenue was down 6.5% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SLB shares. Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Melius started coverage on Schlumberger in a research report on Wednesday. They issued a "buy" rating and a $82.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and a consensus target price of $52.86.

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.