Rockefeller Capital Management L.P. Acquires 199,047 Shares of Schlumberger Limited (NYSE:SLB)

Rockefeller Capital Management L.P. raised its holdings in Schlumberger Limited (NYSE:SLB) by 92.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 414,618 shares of the oil and gas company’s stock after buying an additional 199,047 shares during the period. Rockefeller Capital Management L.P.’s holdings in Schlumberger were worth $17,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in SLB. Ceredex Value Advisors LLC bought a new position in shares of Schlumberger in the second quarter valued at $92,944,000. 1832 Asset Management L.P. bought a new position in shares of Schlumberger in the second quarter valued at $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Schlumberger by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after purchasing an additional 915,705 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SLB. Wells Fargo & Company lowered their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Dbs Bank started coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. Finally, Bank of America decreased their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $43.94 on Monday. The company has a 50-day moving average price of $42.98 and a two-hundred day moving average price of $44.36. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The firm has a market capitalization of $62.05 billion, a PE ratio of 14.13, a P/E/G ratio of 1.55 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the business earned $0.78 earnings per share. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

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.