OVERSEA CHINESE BANKING Corp Ltd Acquires 5,218 Shares of Schlumberger Limited (NYSE:SLB)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Schlumberger Limited (NYSE:SLB) by 36.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,455 shares of the oil and gas company’s stock after buying an additional 5,218 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Schlumberger were worth $735,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. CX Institutional boosted its position in Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 244 shares during the period. GM Advisory Group LLC boosted its holdings in shares of Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after buying an additional 247 shares during the period. TCW Group Inc. boosted its holdings in shares of Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after buying an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after buying an additional 262 shares during the last quarter. Finally, Cromwell Holdings LLC raised its holdings in Schlumberger by 7.0% in the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after acquiring an additional 283 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SLB shares. Jefferies Financial Group decreased their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company lowered their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Barclays lowered their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Finally, TD Cowen boosted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. 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. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Down 0.3 %

Shares of NYSE SLB opened at $41.00 on Thursday. The company has a market cap of $55.75 billion, a price-to-earnings ratio of 13.18, a PEG 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 12 month low of $36.52 and a 12 month high of $55.69. The stock has a 50-day moving average price of $41.08 and a two-hundred day moving average price of $41.43.

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

Schlumberger Increases Dividend

The company also recently announced 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. This represents a $1.14 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 36.66%.

Insider Buying and Selling at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction 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 trade represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by insiders.

About Schlumberger

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.