Charles Schwab Investment Management Inc. Has $395.56 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Charles Schwab Investment Management Inc. increased its holdings in Schlumberger Limited (NYSE:SLB) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,601,124 shares of the oil and gas company’s stock after acquiring an additional 146,815 shares during the period. Charles Schwab Investment Management Inc. owned about 0.53% of Schlumberger worth $395,563,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CI Investments Inc. boosted its stake in Schlumberger by 4.9% in the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after buying an additional 192 shares in the last quarter. Montgomery Investment Management Inc. lifted its stake in Schlumberger by 1.9% in the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP boosted its position in Schlumberger by 3.8% during the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 206 shares during the period. Atria Wealth Solutions Inc. lifted its position in Schlumberger by 0.6% in the third quarter. Atria Wealth Solutions Inc. now owns 34,414 shares of the oil and gas company’s stock valued at $2,007,000 after purchasing an additional 206 shares during the last quarter. Finally, Investment Advisory Services Inc. TX ADV increased its position in shares of Schlumberger by 1.9% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 12,196 shares of the oil and gas company’s stock valued at $635,000 after acquiring an additional 228 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Royal Bank of Canada increased their price target on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Bank of America reduced their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $68.72.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Schlumberger Price Performance

Shares of SLB stock traded down $0.28 during trading hours on Wednesday, hitting $47.89. The stock had a trading volume of 2,768,950 shares, compared to its average volume of 11,030,563. The stock has a market capitalization of $68.45 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.92 and a beta of 1.64. The stock’s 50-day moving average price is $51.62 and its two-hundred day moving average price is $51.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12.

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

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.30%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is currently 36.54%.

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.