WBI Investments LLC Acquires New Holdings in Schlumberger Limited $SLB

Key Points

• WBI Investments LLC acquired a new stake in Schlumberger Limited with 63,948 shares valued at approximately $2,673,000 during the first quarter.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, resulting in an annualized dividend yield of 3.2%.
• Analysts have mixed ratings on Schlumberger, with a consensus rating of "Moderate Buy" and an average price target of $52.86.

WBI Investments LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 63,948 shares of the oil and gas company's stock, valued at approximately $2,673,000.

Other institutional investors also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. boosted its position in Schlumberger by 300.0% during the first 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. bought a new stake in Schlumberger during the first quarter valued at about $33,000. Alpine Bank Wealth Management acquired a new stake in Schlumberger in the first quarter worth about $34,000. Park Square Financial Group LLC acquired a new stake in Schlumberger in the first quarter worth about $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Schlumberger in the fourth quarter worth about $40,000. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

SLB has been the subject of several recent analyst reports. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Jefferies Financial Group lowered their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Melius Research initiated coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target for the company. Stifel Nicolaus lowered their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Melius initiated coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Trading Up 1.1%

Shares of NYSE:SLB opened at $36.16 on Thursday. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The stock has a market cap of $54.00 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 9.93 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. The business has a 50-day moving average price of $34.81 and a 200-day moving average price of $35.86.

Schlumberger (NYSE:SLB - Get Free Report) last announced 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. 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 analysts' expectations of $8.51 billion. During the same period last year, the business posted $0.85 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

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

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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