Voleon Capital Management LP Acquires New Stake in Schlumberger Limited $SLB

Key Points

• Voleon Capital Management LP has acquired a new stake in Schlumberger Limited, purchasing 24,699 shares valued at approximately $1,032,000 during the first quarter.
• Several institutional investors have significantly increased their stakes in Schlumberger, with Charles Schwab Investment Management lifting its investment by 478.8%, now holding nearly 47.7 million shares.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, translating to an annual yield of 3.2% and a payout ratio of 39.04%.

Voleon Capital Management LP acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,699 shares of the oil and gas company's stock, valued at approximately $1,032,000.

Several other institutional investors have also bought and sold shares of SLB. Charles Schwab Investment Management Inc. lifted its stake in Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners lifted its stake in Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Schlumberger by 211.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock valued at $250,507,000 after purchasing an additional 4,066,500 shares during the last quarter. Nuveen LLC purchased a new position in Schlumberger in the first quarter valued at approximately $169,232,000. Finally, Lazard Asset Management LLC lifted its stake in Schlumberger by 3,112.1% in the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SLB. 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. Melius began coverage on Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. UBS Group dropped their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. 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, Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Trading Down 0.2%

Shares of SLB stock opened at $35.77 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The company has a market capitalization of $48.33 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 9.94 and a beta of 1.05. The business's fifty day moving average is $34.79 and its 200 day moving average is $35.86.

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 (EPS) 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 company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm's revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio 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.

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