Perpetual Ltd Grows Position in Schlumberger Limited (NYSE:SLB)

Perpetual Ltd raised its position in Schlumberger Limited (NYSE:SLB) by 153.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 99,840 shares of the oil and gas company’s stock after purchasing an additional 60,421 shares during the period. Perpetual Ltd’s holdings in Schlumberger were worth $3,828,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in Schlumberger in the third quarter worth $37,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger during the third quarter valued at $47,000. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,258 shares of company stock worth $11,246,604. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.4 %

Shares of NYSE:SLB opened at $43.76 on Wednesday. The business’s 50-day moving average is $40.84 and its 200 day moving average is $42.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The firm has a market capitalization of $61.80 billion, a P/E ratio of 14.07, a P/E/G ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. On average, research analysts predict that Schlumberger Limited will post 3.29 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus lowered their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. raised their price target on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger 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.