Schlumberger Limited (NYSE:SLB) Shares Purchased by ING Groep NV

ING Groep NV boosted its holdings in shares of Schlumberger Limited (NYSE:SLBFree Report) by 257.9% in the 4th quarter, Holdings Channel reports. The fund owned 540,737 shares of the oil and gas company’s stock after acquiring an additional 389,642 shares during the quarter. ING Groep NV’s holdings in Schlumberger were worth $28,140,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at approximately $26,000. Janiczek Wealth Management LLC lifted its holdings in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 602 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in Schlumberger by 64.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 292 shares during the period. American National Bank raised its position in Schlumberger by 745.5% in the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 656 shares during the period. Finally, Legacy Bridge LLC lifted its stake in shares of Schlumberger by 39.4% in the 4th quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 241 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Up 0.4 %

NYSE:SLB traded up $0.17 during trading hours on Friday, hitting $48.59. The company’s stock had a trading volume of 5,534,630 shares, compared to its average volume of 9,488,548. The stock has a market capitalization of $69.45 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.93 and a beta of 1.64. The stock has a fifty day moving average of $51.44 and a 200-day moving average of $51.09. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12.

Schlumberger (NYSE:SLBGet Free Report) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.26%. The ex-dividend date is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is currently 36.54%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America cut their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $68.72.

Check Out Our Latest Analysis on Schlumberger

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Insiders sold 119,345 shares of company stock worth $5,774,965 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

About Schlumberger

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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