Dynamic Technology Lab Private Ltd Acquires 17,405 Shares of Schlumberger Limited (NYSE:SLB)

Dynamic Technology Lab Private Ltd raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 32.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,390 shares of the oil and gas company’s stock after purchasing an additional 17,405 shares during the quarter. Schlumberger accounts for approximately 0.4% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 14th largest holding. Dynamic Technology Lab Private Ltd’s holdings in Schlumberger were worth $2,737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SLB. State Street Corp grew its stake in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after purchasing an additional 528,279 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock worth $1,146,195,000 after buying an additional 1,377,134 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Schlumberger by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after buying an additional 343,261 shares during the period. Norges Bank bought a new stake in shares of Schlumberger in the fourth quarter valued at about $735,398,000. Finally, Boston Partners lifted its stake in Schlumberger by 9.9% in the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company’s stock worth $597,356,000 after acquiring an additional 1,405,186 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

Shares of SLB stock opened at $34.77 on Friday. The business has a fifty day moving average of $41.02 and a 200 day moving average of $41.45. Schlumberger Limited has a 1 year low of $34.04 and a 1 year high of $55.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a market capitalization of $47.28 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

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. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. As a group, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were issued a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Wednesday, February 5th. Schlumberger’s dividend payout ratio is 36.66%.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction dated 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 directly owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock worth $13,609,283 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLB. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets reduced their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Jefferies Financial Group reduced their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Finally, Barclays dropped their price objective on Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.79.

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.