Strs Ohio Makes New Investment in Schlumberger Limited $SLB

Strs Ohio purchased a new stake in Schlumberger Limited (NYSE:SLB) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,100,713 shares of the oil and gas company’s stock, valued at approximately $46,010,000.

Several other hedge funds have also modified their holdings of SLB. Charles Schwab Investment Management Inc. lifted its holdings in shares of Schlumberger by 478.8% in the 1st 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 buying an additional 39,474,501 shares during the period. Boston Partners lifted its holdings in shares of Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after buying an additional 4,300,222 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Schlumberger by 211.1% in the 1st 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 buying an additional 4,066,500 shares during the period. Nuveen LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at approximately $169,232,000. Finally, Banque Transatlantique SA lifted its holdings in shares of Schlumberger by 21,737.8% in the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after buying an additional 1,850,760 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays reduced their price target on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, July 21st. UBS Group dropped their price objective on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Jefferies Financial Group dropped their price objective on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. 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 MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $52.86.

Schlumberger Stock Performance

Schlumberger stock opened at $36.00 on Friday. 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 stock has a fifty day moving average of $34.82 and a two-hundred day moving average of $35.82. The company has a market capitalization of $53.77 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 10.03 and a beta of 1.05. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger’s 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.