UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Reduces Stock Holdings in Schlumberger Limited $SLB

Key Points

• UBS Asset Management has significantly reduced its stake in Schlumberger Limited by 86.6%, leaving it with approximately 1.5 million shares, valued at about $62.7 million.
• Several hedge funds have increased their positions in Schlumberger, with notable boosts of over 39% from Woodline Partners LP and over 55% from Empowered Funds LLC during the first quarter.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, representing a yield of 3.2%, and the company reported a net margin of 11.53% in its latest earnings results.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 86.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,500,174 shares of the oil and gas company's stock after selling 9,687,669 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.11% of Schlumberger worth $62,707,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Palogic Value Management L.P. increased its stake in Schlumberger by 9.4% in the first quarter. Palogic Value Management L.P. now owns 36,597 shares of the oil and gas company's stock valued at $1,530,000 after purchasing an additional 3,155 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Schlumberger by 39.6% in the first quarter. Woodline Partners LP now owns 118,351 shares of the oil and gas company's stock valued at $4,947,000 after acquiring an additional 33,545 shares during the period. Empowered Funds LLC boosted its holdings in shares of Schlumberger by 55.3% in the first quarter. Empowered Funds LLC now owns 409,391 shares of the oil and gas company's stock valued at $17,113,000 after acquiring an additional 145,777 shares during the period. Northeast Financial Consultants Inc boosted its holdings in shares of Schlumberger by 2.7% in the first quarter. Northeast Financial Consultants Inc now owns 82,955 shares of the oil and gas company's stock valued at $3,468,000 after acquiring an additional 2,200 shares during the period. Finally, Peloton Wealth Strategists acquired a new stake in shares of Schlumberger in the first quarter valued at approximately $324,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Down 1.2%

NYSE:SLB opened at $35.58 on Monday. The company has a market capitalization of $53.14 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 9.87 and a beta of 1.05. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The stock has a fifty day simple moving average of $34.82 and a 200-day simple moving average of $35.72.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results 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 business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business's revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. On average, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Wall Street Analyst Weigh In

SLB has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Jefferies Financial Group decreased their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Piper Sandler decreased their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Barclays decreased their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Finally, Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a 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 stock. According to data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average target price of $52.86.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.22% of the company's stock.

Schlumberger 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.

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