Schlumberger Limited (NYSE:SLB) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL boosted its holdings in Schlumberger Limited (NYSE:SLB) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,432 shares of the oil and gas company’s stock after purchasing an additional 6,923 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Schlumberger were worth $7,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Schlumberger in the 4th quarter valued at $735,398,000. Pacer Advisors Inc. boosted its holdings in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the last quarter. Clearbridge Investments LLC grew its position in Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock valued at $101,708,000 after acquiring an additional 2,646,653 shares during the period. Franklin Resources Inc. increased its stake in Schlumberger by 12.4% during the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company’s stock worth $590,320,000 after acquiring an additional 1,700,203 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Schlumberger by 196.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company’s stock worth $88,654,000 after purchasing an additional 1,533,366 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction 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 completion of the transaction, the executive vice president now owns 184,626 shares in the company, 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. Over the last quarter, insiders have sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

SLB stock opened at $34.13 on Thursday. Schlumberger Limited has a one year low of $31.11 and a one year high of $51.96. The firm has a 50-day moving average of $39.60 and a two-hundred day moving average of $40.88. The firm has a market capitalization of $46.41 billion, a PE ratio of 10.97, a P/E/G ratio of 10.10 and a beta of 1.11. 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 (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were issued a $0.285 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 3.34%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup upped their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Barclays reduced their price target on Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Susquehanna lowered their price objective on shares of Schlumberger from $55.00 to $48.00 and set a “positive” rating for the company in a research report on Monday. Finally, Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.15.

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.