Mediolanum International Funds Ltd Has $27.51 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Mediolanum International Funds Ltd lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 301.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 729,335 shares of the oil and gas company’s stock after purchasing an additional 547,776 shares during the quarter. Mediolanum International Funds Ltd owned approximately 0.05% of Schlumberger worth $27,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp raised its holdings in Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after acquiring an additional 239,966 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Schlumberger by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Susquehanna cut their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Bank of America lowered their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Jefferies Financial Group cut their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Trading Up 0.2 %

SLB stock opened at $41.03 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $57.47 billion, a P/E ratio of 13.19, a P/E/G ratio of 9.70 and a beta of 1.52. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The business’s 50 day moving average is $40.64 and its 200-day moving average is $42.65.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.78%. Schlumberger’s payout ratio is 35.37%.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,258 shares of company stock valued at $11,219,004. 0.26% of the stock is currently owned by insiders.

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.