Islay Capital Management LLC Lowers Stock Position in Schlumberger Limited $SLB

Islay Capital Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB) by 1.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 28,290 shares of the oil and gas company’s stock after selling 423 shares during the period. Islay Capital Management LLC’s holdings in Schlumberger were worth $1,183,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Synovus Financial Corp lifted its position in shares of Schlumberger by 4.1% in the 1st quarter. Synovus Financial Corp now owns 115,478 shares of the oil and gas company’s stock worth $4,827,000 after purchasing an additional 4,531 shares during the period. ICONIQ Capital LLC purchased a new stake in shares of Schlumberger in the 1st quarter worth approximately $299,000. Quantitative Investment Management LLC purchased a new stake in shares of Schlumberger in the 1st quarter worth approximately $1,227,000. Hotchkis & Wiley Capital Management LLC lifted its position 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 worth $250,507,000 after purchasing an additional 4,066,500 shares during the period. Finally, Cadence Bank lifted its position in shares of Schlumberger by 4.8% in the 1st quarter. Cadence Bank now owns 181,074 shares of the oil and gas company’s stock worth $7,569,000 after purchasing an additional 8,251 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Susquehanna decreased their target price 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. Melius assumed coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Stifel Nicolaus decreased their target price 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. Piper Sandler decreased their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Finally, Barclays decreased their target price on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average target price of $52.86.

Schlumberger Trading Up 5.2%

Shares of Schlumberger stock opened at $35.5750 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.16. The firm has a market capitalization of $48.07 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 9.88 and a beta of 1.03. The firm’s 50 day simple moving average is $34.51 and its two-hundred day simple moving average is $36.30.

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

Schlumberger Dividend Announcement

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 paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio is presently 39.04%.

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.