OFI Invest Asset Management Purchases New Position in Schlumberger Limited (NYSE:SLB)

OFI Invest Asset Management acquired a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,308,852 shares of the oil and gas company's stock, valued at approximately $48,461,000. Schlumberger makes up about 1.1% of OFI Invest Asset Management's investment portfolio, making the stock its 20th largest position. OFI Invest Asset Management owned about 0.09% of Schlumberger at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock worth $3,808,476,000 after acquiring an additional 528,279 shares in the last quarter. Geode Capital Management LLC grew its position in Schlumberger by 0.8% in the third 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 acquiring an additional 239,966 shares in the last quarter. Pacer Advisors Inc. grew its position in Schlumberger by 12,289.6% in 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 acquiring an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock worth $470,425,000 after acquiring an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Schlumberger by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,244,975 shares of the oil and gas company's stock worth $316,112,000 after acquiring an additional 254,178 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

Several research firms recently commented on SLB. Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. 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. Jefferies Financial Group cut their target price 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. Barclays cut their target price on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, December 18th. Finally, Griffin Securities cut shares of Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $55.81.

Schlumberger Price Performance

Shares of SLB traded up $1.60 during trading hours on Friday, hitting $41.36. The stock had a trading volume of 19,613,595 shares, compared to its average volume of 14,443,572. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company's fifty day moving average is $40.73 and its two-hundred day moving average is $41.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market capitalization of $56.25 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 10.10 and a beta of 1.47.

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 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 firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company's revenue was up 3.3% on a year-over-year basis. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm 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 dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. Schlumberger's dividend payout ratio is presently 36.66%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. 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. Company insiders own 0.26% of the company's stock.

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.