Daiwa Securities Group Inc. Acquires 3,438 Shares of Schlumberger (SLB)

Daiwa Securities Group Inc. raised its holdings in Schlumberger (NYSE:SLB) by 7.6% in the first quarter, HoldingsChannel.com reports. The firm owned 48,532 shares of the oil and gas company’s stock after purchasing an additional 3,438 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Schlumberger were worth $3,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Harding Loevner LP raised its position in shares of Schlumberger by 1,337.3% in the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock valued at $569,035,000 after buying an additional 129,289,552 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Schlumberger by 6.8% in the 4th quarter. Bank of New York Mellon Corp now owns 27,353,450 shares of the oil and gas company’s stock valued at $1,843,349,000 after buying an additional 1,733,171 shares in the last quarter. Northern Cross LLC raised its position in shares of Schlumberger by 15.3% in the 4th quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock valued at $1,337,870,000 after buying an additional 2,637,527 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Schlumberger by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 14,131,891 shares of the oil and gas company’s stock valued at $950,287,000 after buying an additional 309,033 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Schlumberger by 25.6% in the 4th quarter. Franklin Resources Inc. now owns 13,240,530 shares of the oil and gas company’s stock valued at $892,278,000 after buying an additional 2,696,580 shares in the last quarter. 80.53% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE SLB opened at $74.43 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.36. Schlumberger has a 52-week low of $71.60 and a 52-week high of $72.42. The company has a market capitalization of $99.18 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 5.81 and a beta of 1.05.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 20th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. Schlumberger had a negative net margin of 4.01% and a positive return on equity of 5.85%. The firm had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.79 billion. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue was up 13.6% on a year-over-year basis. research analysts expect that Schlumberger will post 2.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Wednesday, June 6th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is currently 133.33%.

In other Schlumberger news, EVP Patrick Schorn purchased 5,000 shares of the firm’s stock in a transaction on Monday, March 26th. The stock was purchased at an average cost of $64.79 per share, for a total transaction of $323,950.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paal Kibsgaard purchased 10,000 shares of the firm’s stock in a transaction on Monday, March 26th. The stock was acquired at an average price of $64.68 per share, with a total value of $646,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 18,000 shares of company stock valued at $1,163,650. Corporate insiders own 0.48% of the company’s stock.

Several brokerages have recently commented on SLB. Loop Capital restated a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of Schlumberger in a research report on Monday, January 22nd. Cowen set a $85.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Wednesday, February 14th. Zacks Investment Research cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Susquehanna Bancshares set a $88.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, Credit Suisse Group set a $86.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Wednesday, March 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-five have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $79.80.

Schlumberger Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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