1,308,852 Shares in Schlumberger Limited (NYSE:SLB) Acquired by OFI Invest Asset Management

OFI Invest Asset Management acquired a new stake in Schlumberger Limited (NYSE:SLB) during the 4th quarter, HoldingsChannel reports. The firm acquired 1,308,852 shares of the oil and gas company’s stock, valued at approximately $48,461,000. Schlumberger makes up 1.1% of OFI Invest Asset Management’s investment portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CX Institutional increased its holdings in Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after buying an additional 244 shares during the last quarter. GM Advisory Group LLC increased its stake in shares of Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after purchasing an additional 247 shares during the last quarter. TCW Group Inc. raised its holdings in shares of Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after purchasing an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after purchasing an additional 262 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its holdings in Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after purchasing an additional 283 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLB. Barclays cut their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Jefferies Financial Group lowered their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Evercore ISI reiterated an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 4.0 %

SLB opened at $41.36 on Friday. The company has a market capitalization of $56.25 billion, a P/E ratio of 13.30, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s fifty day moving average price is $40.73 and its two-hundred day moving average price is $41.64. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 36.66%.

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.