United Asset Strategies Inc. purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,609 shares of the oil and gas company's stock, valued at approximately $713,000.
Several other large investors also recently bought and sold shares of SLB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Schlumberger by 20.6% during the 3rd 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 purchasing an additional 1,916,851 shares during the period. Weiss Asset Management LP purchased a new stake in Schlumberger during the 3rd quarter worth about $37,322,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Schlumberger during the 4th quarter worth about $25,481,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Schlumberger by 395.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company's stock worth $32,676,000 after purchasing an additional 621,809 shares during the period. Finally, State Street Corp increased its holdings in Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock worth $3,808,476,000 after purchasing an additional 528,279 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.
Schlumberger Price Performance
Shares of SLB traded down $0.81 during mid-day trading on Friday, hitting $40.21. The company's stock had a trading volume of 12,671,108 shares, compared to its average volume of 15,075,484. 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 50-day simple moving average of $40.58 and a 200 day simple moving average of $42.63. The firm has a market capitalization of $56.32 billion, a P/E ratio of 12.93, a P/E/G ratio of 9.70 and a beta of 1.52. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.
Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.24 billion. During the same period last year, the firm earned $0.86 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.
Schlumberger Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.84%. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio (DPR) is presently 35.37%.
Analysts Set New Price Targets
A number of research firms have recently commented on SLB. Evercore ISI reiterated an "in-line" rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a "positive" rating on the stock in a report on Monday, October 21st. Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Finally, Griffin Securities downgraded Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.
Read Our Latest Stock Analysis on SLB
Insider Activity at Schlumberger
In related news, VP Ugo Prechner sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares of the company's stock, valued at $496,808. This trade represents a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares of the company's stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,258 shares of company stock valued at $11,219,004 in the last ninety days. Corporate insiders own 0.26% of the company's stock.
About Schlumberger
(
Free Report)
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.
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