Westpac Banking Corp Has $758,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Westpac Banking Corp grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,758 shares of the oil and gas company’s stock after purchasing an additional 1,973 shares during the quarter. Westpac Banking Corp’s holdings in Schlumberger were worth $758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in Schlumberger by 0.6% during 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 buying an additional 528,279 shares during the last quarter. Geode Capital Management LLC increased its stake 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 purchasing an additional 1,377,134 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Schlumberger by 1.2% in the 4th 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 purchasing an additional 343,261 shares during the period. Norges Bank acquired a new stake in Schlumberger in the 4th quarter valued at about $735,398,000. Finally, Boston Partners grew its holdings in Schlumberger by 9.9% during the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company’s stock worth $597,356,000 after purchasing an additional 1,405,186 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 315,905 shares of company stock valued at $13,609,283 over the last 90 days. 0.26% of the stock is owned by insiders.

Schlumberger Trading Down 11.3 %

Shares of SLB stock opened at $34.77 on Friday. Schlumberger Limited has a twelve month low of $34.04 and a twelve month high of $55.65. The stock’s fifty day simple moving average is $41.02 and its 200 day simple moving average is $41.45. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $47.28 billion, a P/E ratio of 11.18, a P/E/G ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last released 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. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. 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 posted $0.86 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SLB. Barclays cut their price objective on Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Citigroup upped their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.