Thornburg Investment Management Inc. Purchases New Shares in Schlumberger Limited (NYSE:SLB)

Thornburg Investment Management Inc. purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 37,699 shares of the oil and gas company’s stock, valued at approximately $1,445,000.

Other hedge funds also recently made changes to their positions in the company. YANKCOM Partnership bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC boosted its position in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on SLB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Susquehanna dropped their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Jefferies Financial Group dropped their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Finally, Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.44.

Schlumberger Stock Up 0.0%

SLB stock opened at $35.74 on Monday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The business has a fifty day moving average price of $36.74 and a 200-day moving average price of $39.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market capitalization of $48.61 billion, a P/E ratio of 11.49, a P/E/G ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. Equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

Insiders Place Their Bets

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. 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.