Geode Capital Management LLC Purchases 1,377,134 Shares of Schlumberger Limited (NYSE:SLB)

Geode Capital Management LLC increased its position in Schlumberger Limited (NYSE:SLB) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,985,360 shares of the oil and gas company’s stock after acquiring an additional 1,377,134 shares during the period. Geode Capital Management LLC owned about 2.14% of Schlumberger worth $1,146,195,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CX Institutional increased its position in shares of Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 244 shares during the last quarter. TCW Group Inc. grew its position in Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after buying an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after acquiring an additional 262 shares during the period. Cromwell Holdings LLC grew its position in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after acquiring an additional 283 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Schlumberger by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company’s stock worth $566,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLB. Wells Fargo & Company reduced their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Barclays decreased 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. Citigroup upped their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.69.

Schlumberger Stock Up 0.8 %

Shares of NYSE:SLB opened at $42.11 on Wednesday. The company has a 50-day moving average price of $41.22 and a 200 day moving average price of $41.50. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.65. The company has a market cap of $57.27 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.71%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Insider Transactions at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the firm’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 transaction of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is currently owned by insiders.

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.