Schlumberger Limited (NYSE:SLB) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 6.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,343,805 shares of the oil and gas company’s stock after acquiring an additional 144,031 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Schlumberger worth $90,447,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SLB. Banco BTG Pactual S.A. raised its stake in shares of Schlumberger by 27.4% in the fourth quarter. Banco BTG Pactual S.A. now owns 25,495 shares of the oil and gas company’s stock worth $979,000 after purchasing an additional 5,480 shares during the last quarter. Financial Engines Advisors L.L.C. purchased a new position in Schlumberger during the 4th quarter worth approximately $218,000. Penobscot Investment Management Company Inc. acquired a new stake in Schlumberger during the 4th quarter valued at approximately $914,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Schlumberger in the 4th quarter valued at $62,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Schlumberger by 159.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,515 shares of the oil and gas company’s stock worth $3,547,000 after acquiring an additional 56,801 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 0.7 %

Shares of SLB opened at $42.14 on Friday. The stock has a 50 day moving average price of $41.32 and a 200 day moving average price of $41.43. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market capitalization of $57.31 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping 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 for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.71%. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Barclays reduced their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company cut their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. 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 company’s stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $55.69.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company’s stock.

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.