Parsons Capital Management Inc. RI Has $1.10 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Parsons Capital Management Inc. RI raised its position in Schlumberger Limited (NYSE:SLBFree Report) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,135 shares of the oil and gas company’s stock after purchasing an additional 1,896 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Schlumberger were worth $1,100,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Schlumberger by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after buying an additional 1,412,821 shares during the period. State Street Corp boosted its stake in shares of Schlumberger by 1.0% in the 2nd quarter. State Street Corp now owns 83,794,992 shares of the oil and gas company’s stock worth $4,136,112,000 after buying an additional 861,439 shares during the last quarter. FMR LLC lifted its position in Schlumberger by 1.1% during the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after purchasing an additional 282,709 shares in the last quarter. Geode Capital Management LLC lifted its position in Schlumberger by 1.6% during the first quarter. Geode Capital Management LLC now owns 25,347,967 shares of the oil and gas company’s stock valued at $1,241,319,000 after purchasing an additional 401,606 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Schlumberger in the fourth quarter valued at about $1,008,286,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $54.67 on Wednesday. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. The business’s 50 day simple moving average is $50.69 and its 200 day simple moving average is $52.99. The stock has a market capitalization of $78.04 billion, a PE ratio of 18.72, a PEG ratio of 0.99 and a beta of 1.60.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The company had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.54 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Schlumberger’s dividend payout ratio (DPR) is presently 34.25%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Howard Guild sold 22,853 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the transaction, the chief accounting officer now directly owns 22,181 shares in the company, valued at approximately $1,145,870.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold a total of 172,191 shares of company stock valued at $8,636,322 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. Wells Fargo & Company boosted their price target on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Barclays decreased their price target on shares of Schlumberger from $77.00 to $74.00 and set an “overweight” rating on the stock in a research note on Monday, January 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a report on Monday. Susquehanna reissued a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research report on Tuesday, February 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price target on shares of Schlumberger in a research report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $70.87.

Read Our Latest Stock Report on Schlumberger

Schlumberger Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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