Schlumberger Limited (NYSE:SLB) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Schlumberger Limited (NYSE:SLB) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 229,435 shares of the oil and gas company’s stock after purchasing an additional 8,299 shares during the quarter. CIBC Asset Management Inc’s holdings in Schlumberger were worth $8,797,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Sanctuary Advisors LLC increased its stake in Schlumberger by 1.7% in the fourth quarter. Sanctuary Advisors LLC now owns 307,613 shares of the oil and gas company’s stock valued at $12,618,000 after purchasing an additional 5,090 shares during the period. Rational Advisors LLC increased its stake in Schlumberger by 1,782.4% in the fourth quarter. Rational Advisors LLC now owns 8,546 shares of the oil and gas company’s stock valued at $328,000 after purchasing an additional 8,092 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Schlumberger by 12.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 584,616 shares of the oil and gas company’s stock valued at $22,414,000 after purchasing an additional 64,018 shares during the period. Americana Partners LLC acquired a new position in Schlumberger in the fourth quarter valued at $4,748,000. Finally, Kerusso Capital Management LLC acquired a new position in shares of Schlumberger during the fourth quarter worth about $1,384,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 over the last 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 2.1 %

Shares of NYSE SLB opened at $42.63 on Wednesday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a market capitalization of $59.71 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s 50-day moving average is $40.09 and its two-hundred day moving average is $41.93.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SLB shares. Wells Fargo & Company dropped their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Jefferies Financial Group dropped their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Stifel Nicolaus dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Six equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.81.

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.