Schlumberger Limited (NYSE:SLB) Stock Holdings Increased by Bank of Nova Scotia

Bank of Nova Scotia raised its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 817.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,694,494 shares of the oil and gas company's stock after purchasing an additional 1,509,852 shares during the quarter. Bank of Nova Scotia owned 0.12% of Schlumberger worth $64,967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Norges Bank acquired a new stake in shares of Schlumberger during the 4th quarter valued at about $735,398,000. Pacer Advisors Inc. grew its holdings 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 valued at $500,082,000 after purchasing an additional 12,938,082 shares during the period. Clearbridge Investments LLC increased its position in shares of Schlumberger by 43,028.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after buying an additional 2,646,653 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Schlumberger by 12.4% during the 4th quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock worth $590,320,000 after buying an additional 1,700,203 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Schlumberger by 196.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company's stock valued at $88,654,000 after buying an additional 1,533,366 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SLB shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price target on the stock. Stifel Nicolaus reduced their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, December 23rd. Barclays lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Finally, BMO Capital Markets decreased their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.68.

Schlumberger Stock Down 0.0 %

Schlumberger stock traded down $0.01 during midday trading on Monday, hitting $33.95. 4,283,301 shares of the stock were exchanged, compared to its average volume of 12,963,876. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $52.91. The firm has a market cap of $46.17 billion, a P/E ratio of 10.92, a P/E/G ratio of 10.10 and a beta of 1.11. 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 company has a 50 day moving average price of $39.99 and a two-hundred day moving average price of $41.03.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same period last year, the business earned $0.86 EPS. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were given 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 annualized dividend and a yield of 3.36%. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,905 shares of company stock worth $13,609,283. 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.