US Bancorp DE Raises Holdings in Schlumberger Limited (NYSE:SLB)

Key Points

• US Bancorp DE increased its holdings in Schlumberger Limited by 3.6%, acquiring an additional 63,568 shares, bringing its total to approximately 1.85 million shares valued at $77.3 million.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, with a dividend yield of 3.5% and an annualized dividend payout of $1.14.
• Multiple institutional investors have adjusted their positions in Schlumberger, with notable increases from First Command Advisory Services and Sound Income Strategies, reflecting a broader trend of institutional investment in the company.

US Bancorp DE raised its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,849,470 shares of the oil and gas company's stock after acquiring an additional 63,568 shares during the quarter. US Bancorp DE owned approximately 0.14% of Schlumberger worth $77,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. Vident Advisory LLC raised its stake in shares of Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after buying an additional 273 shares during the last quarter. Glen Eagle Advisors LLC raised its stake in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after buying an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas raised its stake in shares of Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after buying an additional 318 shares during the last quarter. Wahed Invest LLC grew its position in shares of Schlumberger by 0.9% during 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 during the period. Finally, Financial Management Professionals Inc. grew its position in shares of Schlumberger by 2.0% during the 1st quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company's stock valued at $704,000 after acquiring an additional 336 shares during the period. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SLB shares. UBS Group raised their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Piper Sandler dropped their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. 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. Finally, Barclays lowered their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Four investment 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.28.

Schlumberger Stock Down 2.2%

Shares of Schlumberger stock traded down $0.76 during trading hours on Friday, reaching $33.04. 17,069,976 shares of the company were exchanged, compared to its average volume of 19,117,582. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.16. The stock's fifty day moving average is $34.78 and its 200 day moving average is $37.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market cap of $44.65 billion, a PE ratio of 11.32, a PEG ratio of 9.17 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 earnings per share 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 business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The company's revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

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 issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is 39.04%.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was 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 $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by company 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.