Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in Schlumberger Limited. (NYSE:SLB) by 49.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,000 shares of the oil and gas company’s stock after purchasing an additional 28,000 shares during the quarter. Schlumberger accounts for approximately 1.4% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 12th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Schlumberger were worth $3,417,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of Schlumberger by 2.7% during the 2nd quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock valued at $3,571,386,000 after acquiring an additional 2,340,320 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Schlumberger by 4.1% during the 3rd quarter. Fisher Asset Management LLC now owns 12,295,327 shares of the oil and gas company’s stock valued at $420,131,000 after acquiring an additional 479,173 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Schlumberger by 14,172.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,796,324 shares of the oil and gas company’s stock valued at $309,825,000 after acquiring an additional 7,741,700 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 1.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,977,085 shares of the oil and gas company’s stock valued at $277,269,000 after acquiring an additional 94,751 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Schlumberger by 0.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,376,734 shares of the oil and gas company’s stock valued at $173,931,000 after acquiring an additional 11,235 shares in the last quarter. 76.58% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Saul R. Laureles sold 4,350 shares of Schlumberger stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.72, for a total value of $151,032.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Simon Farrant sold 5,000 shares of Schlumberger stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $33.55, for a total value of $167,750.00. Following the completion of the transaction, the vice president now directly owns 20,316 shares of the company’s stock, valued at $681,601.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,735 shares of company stock valued at $3,762,614. Corporate insiders own 0.48% of the company’s stock.
SLB traded up $0.56 during midday trading on Friday, hitting $39.34. 5,733,647 shares of the company were exchanged, compared to its average volume of 11,609,771. The firm has a market capitalization of $54.72 billion, a P/E ratio of 24.28, a P/E/G ratio of 2.90 and a beta of 1.59. Schlumberger Limited. has a 1-year low of $30.65 and a 1-year high of $48.88. The firm’s 50 day moving average price is $38.92 and its 200-day moving average price is $36.47. The company has a quick ratio of 0.95, a current ratio of 1.29 and a debt-to-equity ratio of 0.67.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The firm had revenue of $8.23 billion during the quarter, compared to analyst estimates of $8.16 billion. During the same period last year, the company posted $0.36 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger Limited. will post 1.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, February 12th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.08%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
Several equities research analysts recently weighed in on SLB shares. Deutsche Bank started coverage on Schlumberger in a report on Wednesday, November 27th. They set a “buy” rating and a $42.00 price objective on the stock. Cowen cut their price objective on Schlumberger from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Wells Fargo & Co raised their price objective on Schlumberger from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Sanford C. Bernstein started coverage on Schlumberger in a report on Monday. They set an “underperform” rating and a $27.10 price objective on the stock. Finally, Royal Bank of Canada set a $40.00 target price on Schlumberger and gave the stock a “buy” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.26.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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