Schlumberger Limited (NYSE:SLB) is Olstein Capital Management L.P.’s 8th Largest Position

Olstein Capital Management L.P. raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 252,000 shares of the oil and gas company’s stock after acquiring an additional 8,000 shares during the quarter. Schlumberger makes up 1.7% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 8th largest position. Olstein Capital Management L.P.’s holdings in Schlumberger were worth $9,662,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. ORG Partners LLC lifted its stake in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger in the third quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. increased its position in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Schlumberger in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $42.30 on Friday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week 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 company has a 50 day moving average price of $40.74 and a 200 day moving average price of $42.75. The stock has a market capitalization of $59.73 billion, a P/E ratio of 13.60, a PEG ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid 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 yield of 2.70%. Schlumberger’s dividend payout ratio is 35.37%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SLB shares. Jefferies Financial Group dropped their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. TD Cowen boosted their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company dropped their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, BMO Capital Markets reduced their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Transactions at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s 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 sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The transaction 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 on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,258 shares of company stock valued at $8,732,604. 0.26% of the stock is currently owned by corporate insiders.

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.