OFI Invest Asset Management Makes New $48.46 Million Investment in Schlumberger Limited (NYSE:SLB)

OFI Invest Asset Management acquired a new position in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,308,852 shares of the oil and gas company’s stock, valued at approximately $48,461,000. Schlumberger comprises about 1.1% of OFI Invest Asset Management’s investment portfolio, making the stock its 20th biggest position. OFI Invest Asset Management owned about 0.09% of Schlumberger as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after acquiring an additional 528,279 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after purchasing an additional 239,966 shares during the period. Pacer Advisors Inc. increased its position in Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 buying an additional 1,916,851 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Schlumberger by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,244,975 shares of the oil and gas company’s stock worth $316,112,000 after buying an additional 254,178 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SLB shares. TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company decreased their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Activity

In related news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock valued at $12,546,660 over the last three months. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $41.36 on Friday. The company has a 50-day moving average of $40.73 and a 200-day moving average of $41.64. The firm has a market cap of $56.25 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. 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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.76%. Schlumberger’s payout ratio is 36.66%.

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.