Css LLC Il acquired a new stake in Schlumberger Limited (NYSE:SLB – Get Rating) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 61,923 shares of the oil and gas company’s stock, valued at approximately $1,855,000.
A number of other large investors have also added to or reduced their stakes in the business. Freestone Capital Holdings LLC raised its stake in Schlumberger by 2.4% in the fourth quarter. Freestone Capital Holdings LLC now owns 26,266 shares of the oil and gas company’s stock valued at $787,000 after buying an additional 622 shares during the period. State Street Corp grew its position in shares of Schlumberger by 0.6% in the fourth quarter. State Street Corp now owns 91,556,288 shares of the oil and gas company’s stock valued at $2,753,092,000 after purchasing an additional 554,778 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Schlumberger by 11.8% in the fourth quarter. Nuveen Asset Management LLC now owns 6,588,700 shares of the oil and gas company’s stock valued at $197,331,000 after purchasing an additional 696,306 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Schlumberger by 62.0% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,620 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 620 shares during the last quarter. Finally, Blair William & Co. IL grew its position in shares of Schlumberger by 47.2% in the fourth quarter. Blair William & Co. IL now owns 73,450 shares of the oil and gas company’s stock valued at $2,200,000 after purchasing an additional 23,546 shares during the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.
Several research firms have recently commented on SLB. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. Piper Sandler raised Schlumberger from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $43.00 to $55.00 in a research report on Monday, April 11th. The Goldman Sachs Group raised Schlumberger from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, March 22nd. Zacks Investment Research downgraded Schlumberger from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a research report on Tuesday, March 15th. Finally, Barclays increased their price target on Schlumberger from $48.00 to $55.00 in a research report on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Buy” and a consensus target price of $46.51.
Schlumberger (NYSE:SLB – Get Rating) last announced its earnings results on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.90 billion. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. Schlumberger’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. As a group, equities research analysts expect that Schlumberger Limited will post 1.84 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Wednesday, June 1st will be given a dividend of $0.175 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.13. This represents a $0.70 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, May 31st. Schlumberger’s dividend payout ratio (DPR) is currently 34.01%.
In other news, VP Kevin Fyfe sold 20,708 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $38.50, for a total value of $797,258.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $15.50, for a total value of $224,750,000.00. Following the completion of the sale, the insider now owns 35,101,961 shares of the company’s stock, valued at $544,080,395.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,556,536 shares of company stock valued at $227,082,838. 0.28% of the stock is owned by corporate insiders.
About Schlumberger (Get Rating)
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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