one8zero8 LLC acquired a new position in Schlumberger Limited (NYSE:SLB – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 51,609 shares of the oil and gas company’s stock, valued at approximately $1,979,000.
A number of other institutional investors also recently modified their holdings of the stock. Natixis Advisors LLC boosted its stake in shares of Schlumberger by 15.1% during the 4th quarter. Natixis Advisors LLC now owns 454,993 shares of the oil and gas company’s stock valued at $17,444,000 after buying an additional 59,571 shares during the period. Frank Rimerman Advisors LLC raised its holdings in Schlumberger by 72.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 9,273 shares of the oil and gas company’s stock worth $356,000 after acquiring an additional 3,887 shares during the period. Brandes Investment Partners LP grew its position in Schlumberger by 58.5% in the 4th quarter. Brandes Investment Partners LP now owns 1,029,034 shares of the oil and gas company’s stock worth $39,453,000 after purchasing an additional 379,967 shares during the last quarter. Hills Bank & Trust Co grew its position in Schlumberger by 1.6% in the 4th quarter. Hills Bank & Trust Co now owns 35,586 shares of the oil and gas company’s stock worth $1,364,000 after purchasing an additional 571 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock worth $1,067,254,000 after purchasing an additional 343,261 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.
Wall Street Analysts Forecast Growth
SLB has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Evercore ISI reiterated an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Citigroup lifted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Stifel Nicolaus reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.81.
Insider Buying and Selling at Schlumberger
In other news, insider Dianne B. Ralston sold 43,161 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 Trading Up 2.9 %
Shares of NYSE SLB opened at $41.10 on Friday. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The company has a market cap of $55.89 billion, a PE ratio of 13.21, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $40.95 and a two-hundred day moving average of $41.49.
Schlumberger (NYSE:SLB – Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.
Schlumberger Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is 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.
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