KLP Kapitalforvaltning AS Makes New Investment in Schlumberger Limited (NYSE:SLB)

KLP Kapitalforvaltning AS acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 571,726 shares of the oil and gas company's stock, valued at approximately $22,075,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Teachers Retirement System of The State of Kentucky increased its position in shares of Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock valued at $3,223,000 after buying an additional 16,350 shares in the last quarter. Bryn Mawr Capital Management LLC increased its holdings in Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after buying an additional 165,162 shares during the last quarter. Narwhal Capital Management raised its position in Schlumberger by 225.5% during the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company's stock worth $2,862,000 after acquiring an additional 51,715 shares in the last quarter. Finally, Czech National Bank lifted its stake in Schlumberger by 5.8% in the fourth quarter. Czech National Bank now owns 306,183 shares of the oil and gas company's stock valued at $11,739,000 after acquiring an additional 16,914 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

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Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.28 during trading on Thursday, reaching $42.14. 23,866,917 shares of the company's stock were exchanged, compared to its average volume of 11,800,765. The firm's 50-day moving average price is $41.30 and its 200 day moving average price is $41.43. The company has a market cap of $57.31 billion, a P/E ratio of 13.55, 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 Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current 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 given a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.71%. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.

Insiders Place Their Bets

In related news, insider Gavin Rennick sold 26,990 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. The trade was a 33.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares of the company's stock, valued at $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SLB shares. Griffin Securities cut shares of Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their price objective on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Stifel Nicolaus decreased their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, December 23rd. Evercore ISI reaffirmed an "in-line" rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $55.69.

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.