Sanders Capital LLC Buys 203,766 Shares of Schlumberger Limited (NYSE:SLB)

Sanders Capital LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,697,985 shares of the oil and gas company’s stock after purchasing an additional 203,766 shares during the period. Sanders Capital LLC owned approximately 0.76% of Schlumberger worth $410,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Schlumberger in the 3rd quarter valued at approximately $232,000. Bard Financial Services Inc. bought a new stake in shares of Schlumberger during the 3rd quarter valued at $229,000. SkyView Investment Advisors LLC grew its position in shares of Schlumberger by 5.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 16,965 shares of the oil and gas company’s stock worth $712,000 after buying an additional 936 shares during the period. Sfmg LLC increased its stake in shares of Schlumberger by 4.1% in the 3rd quarter. Sfmg LLC now owns 88,398 shares of the oil and gas company’s stock worth $3,708,000 after acquiring an additional 3,478 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

SLB opened at $33.94 on Friday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $54.63. The company has a market cap of $46.15 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 10.10 and a beta of 1.11. 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 company’s 50 day moving average is $39.99 and its 200 day moving average is $41.03.

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

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.36%. Schlumberger’s dividend payout ratio is 36.66%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SLB. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Finally, Barclays cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $54.68.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the sale, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock worth $13,609,283 in the last three months. Company insiders own 0.26% of the company’s stock.

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.