Sei Investments Co. Has $22.64 Million Holdings in Schlumberger Limited (NYSE:SLB)

Sei Investments Co. lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 16.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 590,424 shares of the oil and gas company’s stock after buying an additional 83,658 shares during the period. Sei Investments Co.’s holdings in Schlumberger were worth $22,639,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. CX Institutional boosted its position in Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 244 shares during the last quarter. TCW Group Inc. boosted its holdings in Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after acquiring an additional 259 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after purchasing an additional 262 shares during the period. Cromwell Holdings LLC raised its holdings in Schlumberger by 7.0% during the 4th 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 during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Schlumberger by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company’s stock valued at $566,000 after purchasing an additional 293 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 30,829 shares in the company, 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 worth $12,546,660. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

SLB opened at $42.39 on Thursday. The company has a market capitalization of $57.64 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 10.10 and a beta of 1.47. The business’s 50-day moving average price is $41.30 and its two-hundred day moving average price is $41.43. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last announced its 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 for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the firm earned $0.86 EPS. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets decreased their price objective on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Evercore ISI restated 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. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

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.