Power Corp of Canada Makes New $395,000 Investment in Schlumberger Limited (NYSE:SLB)

Power Corp of Canada acquired a new position in shares of Schlumberger Limited (NYSE:SLB – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 10,989 shares of the oil and gas company’s stock, valued at approximately $395,000.

Several other institutional investors have also recently bought and sold shares of SLB. Acadian Asset Management LLC acquired a new position in Schlumberger during the first quarter worth $25,000. Cetera Investment Advisers grew its stake in shares of Schlumberger by 35.3% in the 1st quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock worth $1,623,000 after acquiring an additional 10,240 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of Schlumberger in the 1st quarter worth $232,000. Sequoia Financial Advisors LLC bought a new stake in shares of Schlumberger in the 1st quarter worth $419,000. Finally, Baird Financial Group Inc. grew its stake in shares of Schlumberger by 2.9% in the 1st quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock worth $4,627,000 after acquiring an additional 3,209 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on SLB shares. Wolfe Research lowered shares of Schlumberger from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 12th. Barclays upped their target price on shares of Schlumberger from $62.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 25th. Piper Sandler upped their target price on shares of Schlumberger from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. Citigroup upped their target price on shares of Schlumberger from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, January 24th. Finally, Griffin Securities restated a “buy” rating on shares of Schlumberger in a research report on Monday, January 16th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.38.

Schlumberger Price Performance

NYSE SLB opened at $45.32 on Thursday. The company has a market cap of $64.73 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 0.44 and a beta of 1.77. Schlumberger Limited has a 52 week low of $30.65 and a 52 week high of $62.78. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The firm’s 50-day simple moving average is $54.74 and its two-hundred day simple moving average is $49.50.

Schlumberger (NYSE:SLB – Get Rating) last released its quarterly earnings data on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.80 billion. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The company’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. Research analysts predict that Schlumberger Limited will post 3.02 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, February 8th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, February 7th. Schlumberger’s dividend payout ratio is presently 41.67%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 70,000 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $57.20, for a total value of $4,004,000.00. Following the sale, the executive vice president now directly owns 204,357 shares of the company’s stock, valued at $11,689,220.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Vijay Kasibhatla sold 16,000 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $55.99, for a total value of $895,840.00. Following the sale, the director now directly owns 49,378 shares of the company’s stock, valued at $2,764,674.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Abdellah Merad sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the completion of the sale, the executive vice president now directly owns 204,357 shares in the company, valued at $11,689,220.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 269,696 shares of company stock valued at $15,227,195. 0.23% of the stock is currently owned by corporate insiders.

Schlumberger Company Profile

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).