CIBC Asset Management Inc Boosts Stake in Schlumberger Limited (NYSE:SLB)

CIBC Asset Management Inc lifted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,435 shares of the oil and gas company's stock after purchasing an additional 8,299 shares during the period. CIBC Asset Management Inc's holdings in Schlumberger were worth $8,797,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sanctuary Advisors LLC raised its position in shares of Schlumberger by 1.7% in the fourth quarter. Sanctuary Advisors LLC now owns 307,613 shares of the oil and gas company's stock valued at $12,618,000 after purchasing an additional 5,090 shares during the period. Rational Advisors LLC raised its holdings in Schlumberger by 1,782.4% during the 4th quarter. Rational Advisors LLC now owns 8,546 shares of the oil and gas company's stock valued at $328,000 after buying an additional 8,092 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Schlumberger by 12.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 584,616 shares of the oil and gas company's stock worth $22,414,000 after purchasing an additional 64,018 shares in the last quarter. Americana Partners LLC bought a new position in Schlumberger in the 4th quarter worth $4,748,000. Finally, Kerusso Capital Management LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth about $1,384,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Down 2.1 %

Shares of SLB stock traded down $0.87 during trading hours on Friday, reaching $41.73. The company had a trading volume of 13,669,641 shares, compared to its average volume of 14,156,785. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The stock's fifty day simple moving average is $40.17 and its 200 day simple moving average is $41.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a market capitalization of $58.45 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 10.00 and a beta of 1.51.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. Schlumberger's payout ratio is currently 36.66%.

Insider Activity at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company's stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, 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. Over the last 90 days, insiders sold 263,782 shares of company stock valued at $11,442,229. Insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Barclays reduced their price objective on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 18th. Evercore ISI reissued an "in-line" rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, TD Cowen lifted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note 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, the company has a consensus rating of "Moderate Buy" and an average target price of $55.81.

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.