Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,504 shares of the oil and gas company’s stock after acquiring an additional 4,797 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Schlumberger were worth $7,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. BluePath Capital Management LLC purchased a new position in Schlumberger in the third quarter valued at $25,000. Acadian Asset Management LLC purchased a new position in Schlumberger in the first quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger in the fourth quarter valued at $26,000. Coppell Advisory Solutions LLC purchased a new position in Schlumberger in the second quarter valued at $27,000. Finally, MCF Advisors LLC increased its holdings in Schlumberger by 1,355.9% in the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 461 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katharina Beumelburg sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total transaction of $420,960.00. Following the completion of the sale, the insider now owns 15,581 shares of the company’s stock, valued at approximately $819,872.22. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock worth $8,636,322 over the last 90 days. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $49.85 on Monday. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The company has a market capitalization of $71.16 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The firm has a 50-day simple moving average of $51.62 and a 200-day simple moving average of $52.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.21%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. HSBC reissued a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Barclays dropped their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Bank of America dropped their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday. Susquehanna reaffirmed a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a report on Monday, April 8th. Finally, Wells Fargo & Company raised their price objective on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.25.

Schlumberger Company Profile

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.