Polymer Capital Management US LLC Invests $397,000 in Schlumberger Limited (NYSE:SLB)

Polymer Capital Management US LLC purchased a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,354 shares of the oil and gas company's stock, valued at approximately $397,000.

A number of other institutional investors have also modified their holdings of SLB. Geode Capital Management LLC grew its stake in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after buying an additional 1,377,134 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in 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 worth $1,067,254,000 after acquiring an additional 343,261 shares in the last quarter. Norges Bank purchased a new stake in shares of Schlumberger during the fourth quarter worth about $735,398,000. Boston Partners increased its holdings in shares of Schlumberger by 9.9% during 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, Franklin Resources Inc. raised its position in shares of Schlumberger by 12.4% in the 4th quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock valued at $590,320,000 after purchasing an additional 1,700,203 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

SLB traded up $1.40 during trading on Friday, hitting $33.94. The company's stock had a trading volume of 20,882,247 shares, compared to its average volume of 12,996,074. 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 capitalization of $46.15 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 10.10 and a beta of 1.11. The business's fifty day simple moving average is $39.99 and its 200 day simple moving average is $41.03. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $52.91.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for 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 firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 3.36%. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. JPMorgan Chase & Co. upped their target price on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Stifel Nicolaus dropped their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Finally, Evercore ISI restated an "in-line" rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.68.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 25,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares of the company's stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 315,905 shares of company stock worth $13,609,283. Insiders own 0.26% of the company's stock.

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.