Schlumberger Limited (NYSE:SLB) Shares Purchased by Qtron Investments LLC

Qtron Investments LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 92.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,509 shares of the oil and gas company’s stock after acquiring an additional 11,755 shares during the period. Qtron Investments LLC’s holdings in Schlumberger were worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB grew its stake in Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after buying an additional 16,350 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company’s stock worth $2,737,000 after acquiring an additional 17,405 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Schlumberger by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after acquiring an additional 1,377,134 shares during the period. Bryn Mawr Capital Management LLC raised its position in Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock valued at $7,592,000 after purchasing an additional 165,162 shares during the last quarter. Finally, Narwhal Capital Management boosted its stake in Schlumberger by 225.5% during the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock worth $2,862,000 after purchasing an additional 51,715 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SLB shares. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Barclays reduced their price objective on Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Wells Fargo & Company upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.68.

Schlumberger Stock Performance

SLB opened at $33.94 on Friday. The stock’s 50 day simple moving average is $39.99 and its 200 day simple moving average is $41.03. The stock has a market cap of $46.15 billion, a P/E ratio of 10.91, a P/E/G ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $54.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

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

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 3.36%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is presently 36.66%.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. The trade was a 22.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock valued at $13,609,283 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Company 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.