Sumitomo Mitsui DS Asset Management Company Ltd Buys 3,882 Shares of Schlumberger Limited (NYSE:SLB)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 169,243 shares of the oil and gas company’s stock after purchasing an additional 3,882 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Schlumberger were worth $7,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in SLB. NBC Securities Inc. lifted its holdings in shares of Schlumberger by 5.6% in the 1st quarter. NBC Securities Inc. now owns 7,873 shares of the oil and gas company’s stock worth $431,000 after acquiring an additional 420 shares during the last quarter. American National Bank lifted its holdings in shares of Schlumberger by 51.6% in the 1st quarter. American National Bank now owns 1,128 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 384 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Schlumberger by 0.7% in the 1st quarter. Park Avenue Securities LLC now owns 42,312 shares of the oil and gas company’s stock worth $2,319,000 after acquiring an additional 310 shares during the last quarter. BTC Capital Management Inc. bought a new stake in shares of Schlumberger in the 1st quarter worth approximately $411,000. Finally, Gulf International Bank UK Ltd lifted its holdings in shares of Schlumberger by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 122,489 shares of the oil and gas company’s stock worth $6,713,000 after acquiring an additional 619 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $41.92 on Friday. The firm’s 50 day moving average price is $43.10 and its 200-day moving average price is $46.08. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $60.85. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $59.52 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. Equities research analysts expect that Schlumberger Limited will post 3.46 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.62%. Schlumberger’s dividend payout ratio is 35.95%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. TD Cowen upped their price target on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Barclays lowered their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley lowered their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Susquehanna reduced their price objective on shares of Schlumberger from $70.00 to $60.00 and set a “positive” rating on the stock in a research report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $62.97.

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.