Schlumberger Limited (NYSE:SLB) Shares Purchased by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 34.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,626 shares of the oil and gas company’s stock after purchasing an additional 3,001 shares during the period. Culbertson A N & Co. Inc.’s holdings in Schlumberger were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SLB. State Street Corp lifted its holdings in shares of Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the period. Geode Capital Management LLC raised its position in Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after acquiring an additional 239,966 shares in the last quarter. Legal & General Group Plc lifted its holdings in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after acquiring an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Up 6.1 %

Shares of NYSE SLB opened at $43.58 on Tuesday. The stock has a market cap of $61.54 billion, a PE ratio of 14.01, a P/E/G ratio of 3.61 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a 50-day moving average of $40.86 and a 200 day moving average of $42.84.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited will post 3.29 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BMO Capital Markets cut their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Jefferies Financial Group cut their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, TD Cowen decreased their target price on Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $56.03.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

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.