Meiji Yasuda Asset Management Co Ltd. Acquires 56,801 Shares of Schlumberger Limited (NYSE:SLB)

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 159.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,515 shares of the oil and gas company's stock after purchasing an additional 56,801 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Schlumberger were worth $3,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock valued at $3,808,476,000 after purchasing an additional 528,279 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock worth $1,195,290,000 after buying an additional 239,966 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Schlumberger by 1.2% in the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock valued at $1,067,254,000 after acquiring an additional 343,261 shares in the last quarter. Boston Partners boosted its holdings in shares of Schlumberger by 9.9% in the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company's stock valued at $597,356,000 after acquiring an additional 1,405,186 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

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Insider Activity

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dianne B. Ralston sold 43,161 shares of the business's stock in a transaction on 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 completion of the sale, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,772 shares of company stock worth $12,546,660. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

SLB has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Evercore ISI reiterated an "in-line" rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Tuesday, December 17th. Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, December 23rd. Finally, Citigroup lifted their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research report 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 company. According to data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $55.69.

Schlumberger Stock Down 0.6 %

Shares of SLB traded down $0.24 during midday trading on Friday, reaching $41.87. 12,887,648 shares of the stock were exchanged, compared to its average volume of 12,188,001. The company has a market cap of $56.93 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47. The firm has a 50 day simple moving average of $41.29 and a 200-day simple moving average of $41.46. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.65. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter last year, the firm earned $0.86 EPS. Schlumberger's revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio 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.