Schlumberger Limited (NYSE:SLB) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its stake in Schlumberger Limited (NYSE:SLB) by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 165,784 shares of the oil and gas company’s stock after acquiring an additional 2,705 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Schlumberger were worth $6,356,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. purchased a new stake in shares of Schlumberger during the second quarter worth about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Schlumberger by 20.6% during 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 acquiring an additional 1,916,851 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after acquiring an additional 1,560,684 shares in the last quarter. Merewether Investment Management LP acquired a new stake in shares of Schlumberger in the second quarter worth approximately $42,957,000. Finally, Weiss Asset Management LP purchased a new stake in shares of Schlumberger during the third quarter worth approximately $37,322,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Up 6.1 %

NYSE:SLB opened at $43.58 on Friday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The firm has a market cap of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $40.86 and a 200 day moving average price of $42.90.

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, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter last year, the business posted $0.86 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.39 earnings per share 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 issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Barclays lowered their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company reduced 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. Finally, Susquehanna dropped their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Six investment 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. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.03.

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.