Todd Asset Management LLC Purchases 11,400 Shares of Schlumberger Limited (NYSE:SLB)

Key Points

• Todd Asset Management LLC increased its stake in Schlumberger Limited by 1.4%, owning approximately 812,152 shares worth $33.95 million, following the purchase of 11,400 additional shares.
• Schlumberger recently reported a 0.74 EPS for the quarter, slightly beating estimates, but experienced a 6.5% year-over-year revenue decline at $8.55 billion.
• The company declared a quarterly dividend of $0.285 per share, representing an annualized dividend yield of 3.5%, set to be paid on October 9th.

Todd Asset Management LLC grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 812,152 shares of the oil and gas company's stock after acquiring an additional 11,400 shares during the quarter. Todd Asset Management LLC owned approximately 0.06% of Schlumberger worth $33,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. First Command Advisory Services Inc. boosted its stake in Schlumberger by 300.0% during the 1st 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 in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Schlumberger in the 1st quarter worth about $33,000. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger during the first quarter worth approximately $34,000. True Wealth Design LLC increased its stake in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 842 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of Schlumberger during the 1st quarter valued at about $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective 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. Barclays cut their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. UBS Group lifted their price target on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Stifel Nicolaus decreased their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and a consensus price target of $49.28.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.31 during trading on Thursday, hitting $33.24. 16,281,732 shares of the company's stock traded hands, compared to its average volume of 16,436,137. 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 company has a market cap of $44.92 billion, a PE ratio of 11.38, a PEG ratio of 9.14 and a beta of 1.03. The firm's fifty day moving average price is $34.68 and its 200 day moving average price is $36.72.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during 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 revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

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

Insider Buying and Selling at Schlumberger

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