19,180,960 Shares in Schlumberger Limited (NYSE:SLB) Bought by Norges Bank

Norges Bank acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,180,960 shares of the oil and gas company's stock, valued at approximately $735,398,000. Norges Bank owned approximately 1.37% of Schlumberger as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its position in Schlumberger by 25.9% in the third 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 buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Bryn Mawr Capital Management LLC raised its stake in Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock valued at $7,592,000 after acquiring an additional 165,162 shares during the period. Narwhal Capital Management lifted its holdings 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 valued at $2,862,000 after purchasing an additional 51,715 shares during the last quarter. Finally, Czech National Bank boosted its position in Schlumberger by 5.8% during the fourth quarter. Czech National Bank now owns 306,183 shares of the oil and gas company's stock worth $11,739,000 after purchasing an additional 16,914 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

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Analyst Ratings Changes

SLB has been the topic of a number of recent research reports. Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. TD Cowen lifted their target price on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Stifel Nicolaus decreased 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. Finally, Griffin Securities lowered shares of Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.69.

Insider Buying and Selling

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 value of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 over the last ninety days. Company insiders own 0.26% of the company's stock.

Schlumberger Trading Up 0.0 %

NYSE SLB traded up $0.02 on Monday, hitting $41.90. The company's stock had a trading volume of 7,450,861 shares, compared to its average volume of 15,311,050. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $56.98 billion, a P/E ratio of 13.47, a PEG ratio of 10.10 and a beta of 1.47. The company's 50-day simple moving average is $41.29 and its 200 day simple moving average is $41.47. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.65.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $9.24 billion. During the same period in the prior year, the business earned $0.86 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared 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 is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.72%. Schlumberger's payout ratio is currently 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.