Permanent Capital Management LP Makes New Investment in Schlumberger Limited (NYSE:SLB)

Permanent Capital Management LP purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,064 shares of the oil and gas company's stock, valued at approximately $273,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. raised its holdings in Schlumberger by 12,289.6% in 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 buying an additional 12,938,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock valued at $470,425,000 after buying an additional 1,916,851 shares during the period. Scharf Investments LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $52,607,000. AMF Tjanstepension AB increased its stake in Schlumberger by 273.3% during the 4th quarter. AMF Tjanstepension AB now owns 1,338,376 shares of the oil and gas company's stock valued at $51,384,000 after purchasing an additional 979,820 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Schlumberger by 12.7% during the fourth quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company's stock worth $310,696,000 after buying an additional 915,925 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLB. Atb Cap Markets lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Griffin Securities downgraded shares of Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Royal Bank of Canada restated an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. TD Cowen boosted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.81.

Insider Activity

In related 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 transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now directly owns 235,024 shares in the company, valued at $10,331,655.04. The trade was a 15.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company's stock.

Schlumberger Trading Down 2.4 %

Shares of NYSE:SLB traded down $0.97 on Tuesday, reaching $40.17. 5,200,286 shares of the company traded hands, compared to its average volume of 14,328,111. The stock has a market capitalization of $54.63 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The business's 50-day simple moving average is $40.80 and its 200 day simple moving average is $41.61. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $0.86 EPS. Schlumberger's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.84%. Schlumberger's payout ratio is presently 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.