Schlumberger Limited (NYSE:SLB) Shares Acquired by Invesco Ltd.

Invesco Ltd. grew its stake in Schlumberger Limited (NYSE:SLB) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,659,177 shares of the oil and gas company’s stock after buying an additional 281,937 shares during the period. Invesco Ltd. owned 0.56% of Schlumberger worth $320,154,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Scharf Investments LLC boosted its holdings in shares of Schlumberger by 20.5% in the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock valued at $69,133,000 after buying an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock worth $3,142,000 after purchasing an additional 66,907 shares during the period. Alan B Lancz & Associates Inc. acquired a new stake in Schlumberger during the 1st quarter worth $308,000. Stratos Investment Management LLC boosted its stake in Schlumberger by 236.0% during the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock worth $6,141,000 after purchasing an additional 103,182 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Schlumberger during the 4th quarter worth $56,507,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $32.40 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $34.70 and a two-hundred day moving average price of $36.77. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The company has a market capitalization of $43.78 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 9.12 and a beta of 1.03.

Schlumberger (NYSE:SLB) 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. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same period last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared 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 dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 39.04%.

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director directly owned 23,525 shares of the company’s stock, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SLB has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Susquehanna cut their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research report on Monday, July 21st. Finally, Stifel Nicolaus cut their price objective on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $49.28.

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.