Sanders Capital LLC Purchases 346,177 Shares of Schlumberger Limited (NYSE:SLB)

Sanders Capital LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLBFree Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,402,669 shares of the oil and gas company’s stock after acquiring an additional 346,177 shares during the period. Schlumberger makes up approximately 0.8% of Sanders Capital LLC’s investment portfolio, making the stock its 29th largest holding. Sanders Capital LLC owned 0.59% of Schlumberger worth $437,275,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SLB. NBC Securities Inc. acquired a new stake in Schlumberger in the 3rd quarter valued at $435,000. Victory Capital Management Inc. raised its holdings in shares of Schlumberger by 6.0% during the 3rd quarter. Victory Capital Management Inc. now owns 605,180 shares of the oil and gas company’s stock worth $35,282,000 after acquiring an additional 34,244 shares during the period. Sigma Planning Corp raised its holdings in shares of Schlumberger by 9.7% during the 3rd quarter. Sigma Planning Corp now owns 21,291 shares of the oil and gas company’s stock worth $1,241,000 after acquiring an additional 1,874 shares during the period. Wealthspire Advisors LLC purchased a new stake in Schlumberger in the 3rd quarter valued at about $267,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Schlumberger by 443.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,023 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 1,651 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.1 %

Shares of Schlumberger stock traded down $0.05 during trading hours on Thursday, reaching $45.59. The stock had a trading volume of 13,596,195 shares, compared to its average volume of 10,711,700. The firm has a market capitalization of $65.16 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.90 and a beta of 1.64. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. The firm has a 50 day simple moving average of $50.44 and a two-hundred day simple moving average of $50.64.

Schlumberger (NYSE:SLBGet Free Report) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SLB shares. Bank of America dropped their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. TD Cowen cut their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Royal Bank of Canada upped their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Check Out Our Latest Analysis on SLB

Schlumberger Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.