Cibc World Markets Corp Has $19.43 Million Holdings in Schlumberger Limited (NYSE:SLB)

Cibc World Markets Corp raised its position in Schlumberger Limited (NYSE:SLB) by 119.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 506,642 shares of the oil and gas company’s stock after purchasing an additional 275,352 shares during the period. Cibc World Markets Corp’s holdings in Schlumberger were worth $19,425,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SLB. Prospera Private Wealth LLC acquired a new position in Schlumberger in the third quarter valued at $29,000. YANKCOM Partnership bought a new position in shares of Schlumberger in the 4th quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $34,000. Finally, Hager Investment Management Services LLC acquired a new stake in Schlumberger during the fourth quarter worth approximately $38,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

NYSE SLB opened at $41.42 on Tuesday. The company has a fifty day moving average price of $41.00 and a 200-day moving average price of $41.46. The firm has a market cap of $56.32 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.75%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. BMO Capital Markets reduced their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling

In related news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by company insiders.

About Schlumberger

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.