Schlumberger Limited (NYSE:SLB) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,136 shares of the oil and gas company's stock after acquiring an additional 15,010 shares during the period. CIBC Asset Management Inc's holdings in Schlumberger were worth $9,277,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Capital World Investors raised its stake 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 worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in 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 valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Legal & General Group Plc grew its position in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock valued at $598,544,000 after acquiring an additional 1,560,684 shares during the period. Boston Partners increased its stake in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company's stock worth $635,883,000 after acquiring an additional 3,069,395 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Schlumberger by 1.2% during 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 acquiring an additional 100,477 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research reports. Citigroup decreased their target price on Schlumberger from $60.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, October 22nd. Benchmark reissued a "buy" rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Royal Bank of Canada restated an "outperform" rating and set a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Stifel Nicolaus reiterated a "buy" rating and issued a $60.00 price target (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Finally, Bank of America reduced 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. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.97.

Schlumberger Stock Down 0.6 %

SLB stock traded down $0.27 during mid-day trading on Friday, hitting $43.18. 9,632,621 shares of the company were exchanged, compared to its average volume of 13,737,082. The firm has a fifty day simple moving average of $42.40 and a 200 day simple moving average of $44.69. The company has a market capitalization of $60.98 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Schlumberger Dividend Announcement

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

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

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.