Victory Capital Management Inc. lifted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 63.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,335,250 shares of the oil and gas company's stock after buying an additional 517,479 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of Schlumberger worth $51,193,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after purchasing an additional 16,350 shares during the period. Bryn Mawr Capital Management LLC raised its stake in Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after purchasing an additional 165,162 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock valued at $827,000 after acquiring an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company's stock valued at $12,880,000 after acquiring an additional 63,413 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on SLB shares. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Stifel Nicolaus dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Royal Bank of Canada reiterated an "outperform" rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Finally, Atb Cap Markets cut 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.81.
Check Out Our Latest Analysis on SLB
Schlumberger Price Performance
Shares of SLB traded up $1.60 during trading hours on Friday, reaching $41.36. The company had a trading volume of 19,613,595 shares, compared to its average volume of 14,443,572. 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 $40.73 and a 200-day simple moving average of $41.64. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a market capitalization of $56.25 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47.
Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating 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 firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period last year, the firm posted $0.86 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.
Schlumberger Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders 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. This represents a $1.14 annualized dividend and a yield of 2.76%. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio (DPR) is 36.66%.
Insiders Place Their Bets
In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the transaction, the executive vice president now directly owns 210,502 shares of the company's stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on 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. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock valued at $12,546,660 in the last ninety days. Insiders own 0.26% of the company's stock.
Schlumberger Profile
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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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