Anchor Capital Advisors LLC Takes $10.40 Million Position in Schlumberger Limited (NYSE:SLB)

Anchor Capital Advisors LLC acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 271,323 shares of the oil and gas company's stock, valued at approximately $10,403,000.

Several other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in shares of Schlumberger by 4,640.0% in the third quarter. International Assets Investment Management LLC now owns 202,635 shares of the oil and gas company's stock worth $8,501,000 after buying an additional 198,360 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Schlumberger by 6.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 47,548 shares of the oil and gas company's stock valued at $1,995,000 after acquiring an additional 2,986 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in shares of Schlumberger by 19.7% during the third quarter. Nicholas Hoffman & Company LLC. now owns 14,374 shares of the oil and gas company's stock valued at $603,000 after purchasing an additional 2,367 shares during the last quarter. Tandem Capital Management Corp ADV bought a new position in Schlumberger during the third quarter valued at approximately $1,487,000. Finally, Cornerstone Wealth Group LLC boosted its holdings in Schlumberger by 7.0% in the third quarter. Cornerstone Wealth Group LLC now owns 62,549 shares of the oil and gas company's stock worth $2,624,000 after purchasing an additional 4,070 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BMO Capital Markets cut their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Stifel Nicolaus reduced their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Finally, Griffin Securities downgraded shares of Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and a consensus price target of $55.81.

Insider Activity at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company's stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,772 shares of company stock worth $12,546,660. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.77 during trading on Tuesday, reaching $39.05. 13,618,458 shares of the stock traded hands, compared to its average volume of 14,249,305. 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 Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The business has a fifty day simple moving average of $40.56 and a two-hundred day simple moving average of $41.76. The company has a market capitalization of $53.10 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. Sell-side analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) 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.