Legal & General Group Plc increased its holdings in Schlumberger Limited. (NYSE:SLB) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,934,180 shares of the oil and gas company’s stock after buying an additional 542,567 shares during the quarter. Legal & General Group Plc’s holdings in Schlumberger were worth $250,185,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLB. HC Financial Advisors Inc. grew its position in shares of Schlumberger by 44.0% in the third quarter. HC Financial Advisors Inc. now owns 24,373 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 7,444 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Schlumberger by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 31,019,971 shares of the oil and gas company’s stock valued at $1,889,738,000 after purchasing an additional 1,558,478 shares in the last quarter. CI Investments Inc. grew its position in shares of Schlumberger by 41.4% in the third quarter. CI Investments Inc. now owns 756,840 shares of the oil and gas company’s stock valued at $46,107,000 after purchasing an additional 221,700 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Schlumberger by 220.4% in the third quarter. Canada Pension Plan Investment Board now owns 65,665 shares of the oil and gas company’s stock valued at $4,000,000 after purchasing an additional 45,173 shares in the last quarter. Finally, Standard Life Aberdeen plc grew its position in shares of Schlumberger by 4.0% in the third quarter. Standard Life Aberdeen plc now owns 4,717,037 shares of the oil and gas company’s stock valued at $287,384,000 after purchasing an additional 182,508 shares in the last quarter. 78.93% of the stock is owned by institutional investors.
In other Schlumberger news, EVP Peuch Olivier Le sold 15,000 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total value of $660,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by company insiders.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 18th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. As a group, analysts anticipate that Schlumberger Limited. will post 1.6 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Wednesday, February 13th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, February 12th. Schlumberger’s payout ratio is currently 123.46%.
A number of equities research analysts have recently issued reports on SLB shares. Bank of America restated a “buy” rating and issued a $52.00 price target (down from $69.00) on shares of Schlumberger in a research report on Monday, December 3rd. Zacks Investment Research upgraded Schlumberger from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Jefferies Financial Group lowered their price objective on Schlumberger to $54.00 and set a “buy” rating for the company in a research report on Thursday, December 6th. JPMorgan Chase & Co. lowered Schlumberger from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $73.00 to $48.00 in a research report on Tuesday, December 11th. Finally, Barclays set a $58.00 price objective on Schlumberger and gave the stock a “hold” rating in a research report on Monday, December 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.50.
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Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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