Van ECK Associates Corp Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Van ECK Associates Corp increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,103,715 shares of the oil and gas company's stock after purchasing an additional 915,925 shares during the quarter. Van ECK Associates Corp owned approximately 0.58% of Schlumberger worth $310,696,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC increased its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger during the 3rd quarter worth approximately $29,000. YANKCOM Partnership acquired a new position in Schlumberger during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $34,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Down 0.8 %

Shares of Schlumberger stock traded down $0.34 during trading on Friday, reaching $41.75. 12,223,889 shares of the company traded hands, compared to its average volume of 15,414,117. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The company has a 50 day moving average price of $40.08 and a 200-day moving average price of $42.01. The firm has a market capitalization of $58.48 billion, a PE ratio of 13.42, a P/E/G ratio of 9.49 and a beta of 1.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business 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 represents a $1.14 annualized dividend and a yield of 2.73%. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is presently 36.66%.

Insider Activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares of the company's stock, valued at $2,179,204.30. This represents a 33.51 % 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 worth $11,442,229. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Wells Fargo & Company reduced their target price on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Finally, Atb Cap Markets lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Six investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

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.