Schlumberger Limited (NYSE:SLB) Position Raised by Schroder Investment Management Group

Schroder Investment Management Group raised its position in shares of Schlumberger Limited (NYSE:SLB) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 898,986 shares of the oil and gas company’s stock after buying an additional 12,845 shares during the period. Schroder Investment Management Group’s holdings in Schlumberger were worth $34,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Norges Bank bought a new position in Schlumberger during the fourth quarter valued at about $735,398,000. Pacer Advisors Inc. boosted its position in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Schlumberger by 196.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company’s stock worth $88,654,000 after purchasing an additional 1,533,366 shares during the last quarter. Boston Partners raised its holdings in shares of Schlumberger by 9.9% in the 4th quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company’s stock worth $597,356,000 after purchasing an additional 1,405,186 shares in the last quarter. Finally, Scharf Investments LLC acquired a new stake in Schlumberger during the fourth quarter valued at approximately $52,607,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

SLB has been the subject of a number of recent research reports. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Stifel Nicolaus cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. 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 report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Insider Transactions at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 0.8 %

Shares of NYSE SLB opened at $42.11 on Wednesday. The business has a 50 day simple moving average of $41.22 and a 200 day simple moving average of $41.50. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.65. The stock has a market cap of $57.27 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping 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 company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Schlumberger Company 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.