CIBC Asset Management Inc Acquires 15,010 Shares of Schlumberger Limited (NYSE:SLB)

CIBC Asset Management Inc increased its position in Schlumberger Limited (NYSE:SLB) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,136 shares of the oil and gas company’s stock after buying an additional 15,010 shares during the period. CIBC Asset Management Inc’s holdings in Schlumberger were worth $9,277,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Capital World Investors raised its position in Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the period. Legal & General Group Plc raised its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the period. Boston Partners raised its holdings in shares of Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Schlumberger by 1.2% in the second quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock worth $404,985,000 after buying an additional 100,477 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.6 %

Schlumberger stock opened at $43.18 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock has a market capitalization of $60.98 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.54 and a beta of 1.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The business has a fifty day moving average price of $42.40 and a 200-day moving average price of $44.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Wells Fargo & Company dropped their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Bank of America dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Barclays dropped their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

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.