Nordea Investment Management AB Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Nordea Investment Management AB raised its position in Schlumberger Limited (NYSE:SLB - Free Report) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,767,647 shares of the oil and gas company's stock after purchasing an additional 118,074 shares during the period. Nordea Investment Management AB owned approximately 0.13% of Schlumberger worth $67,772,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust raised its holdings in shares of Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company's stock valued at $64,000 after purchasing an additional 224 shares during the last quarter. Clearstead Trust LLC grew its position in Schlumberger by 0.8% in the second quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company's stock valued at $1,488,000 after purchasing an additional 237 shares in the last quarter. M&R Capital Management Inc. lifted its position in Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company's stock worth $622,000 after buying an additional 241 shares in the last quarter. GM Advisory Group LLC lifted its position in Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company's stock worth $281,000 after buying an additional 247 shares in the last quarter. Finally, Cordatus Wealth Management LLC grew its holdings in shares of Schlumberger by 2.1% in the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company's stock valued at $561,000 after acquiring an additional 281 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of NYSE SLB traded down $0.60 during mid-day trading on Wednesday, reaching $38.77. 11,318,049 shares of the company were exchanged, compared to its average volume of 10,181,454. The stock has a market capitalization of $54.75 billion, a PE ratio of 12.47, a PEG ratio of 1.42 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company's 50 day moving average price is $41.05 and its 200 day moving average price is $43.22.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS. Sell-side analysts forecast that Schlumberger Limited will post 3.39 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. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.84%. Schlumberger's payout ratio is 35.37%.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SLB shares. Stifel Nicolaus lowered their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. Barclays lowered their target price on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, December 18th. Jefferies Financial Group cut their price target on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. UBS Group lowered their price objective on shares of Schlumberger from $63.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th. Finally, Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an "outperform" rating for the company in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and an average target price of $57.58.

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.