Woodline Partners LP Grows Position in Schlumberger Limited $SLB

Key Points

• Woodline Partners LP increased its stake in Schlumberger Limited by 39.6% in Q1, now owning 118,351 shares valued at approximately $4.95 million.
• Schlumberger's recent quarterly earnings report showed earnings per share of $0.74, slightly surpassing estimates, with a net margin of 11.53%.
• The company announced a quarterly dividend of $0.285 per share, representing a yield of 3.2%, set to be paid on October 9th.

Woodline Partners LP grew its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 39.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 118,351 shares of the oil and gas company's stock after purchasing an additional 33,545 shares during the quarter. Woodline Partners LP's holdings in Schlumberger were worth $4,947,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Schlumberger by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC purchased a new stake in Schlumberger in the fourth quarter worth $238,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Schlumberger by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,587 shares of the oil and gas company's stock worth $5,390,000 after acquiring an additional 6,597 shares during the period. NorthRock Partners LLC lifted its stake in Schlumberger by 68.9% in the fourth quarter. NorthRock Partners LLC now owns 17,865 shares of the oil and gas company's stock worth $685,000 after acquiring an additional 7,287 shares during the period. Finally, Man Group plc lifted its stake in Schlumberger by 132.9% in the fourth quarter. Man Group plc now owns 417,104 shares of the oil and gas company's stock worth $15,992,000 after acquiring an additional 237,992 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $35.58 on Friday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. 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 business has a fifty day moving average price of $34.82 and a 200-day moving average price of $35.79. The company has a market capitalization of $53.14 billion, a PE ratio of 12.18, a PEG ratio of 10.00 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating 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 the consensus estimate of $8.51 billion. During the same period last 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 analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. decreased their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Barclays lowered their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. UBS Group lowered their price objective on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Finally, Morgan Stanley lowered their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.86.

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.

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