Douglas Lane & Associates LLC Has $52.24 Million Holdings in Schlumberger Limited (NYSE:SLB)

Douglas Lane & Associates LLC increased its stake in Schlumberger Limited (NYSE:SLB) by 30.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,362,494 shares of the oil and gas company’s stock after acquiring an additional 319,968 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Schlumberger were worth $52,238,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the period. Geode Capital Management LLC increased its holdings in shares of Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after acquiring an additional 239,966 shares in the last quarter. Legal & General Group Plc raised its position in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Schlumberger by 20.6% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after purchasing an additional 31,718 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several recent research reports. BMO Capital Markets decreased their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Citigroup lowered their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company cut their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $57.58.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Shares of NYSE:SLB traded down $0.70 during mid-day trading on Wednesday, reaching $38.67. 6,701,692 shares of the company traded hands, compared to its average volume of 9,201,872. The company’s 50 day moving average price is $41.05 and its 200-day moving average price is $43.22. The firm has a market cap of $54.61 billion, a PE ratio of 12.43, a PEG ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.84%. Schlumberger’s dividend payout ratio is currently 35.37%.

About Schlumberger

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.