Boston Partners Grows Holdings in Schlumberger Limited (NYSE:SLB)

Boston Partners increased its position in shares of Schlumberger Limited (NYSE:SLB) by 9.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,529,159 shares of the oil and gas company’s stock after buying an additional 1,405,186 shares during the period. Boston Partners’ holdings in Schlumberger were worth $597,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in Schlumberger during the 3rd quarter worth $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter worth about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the 4th quarter worth about $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter worth about $34,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Schlumberger in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Trading Up 0.8 %

Shares of NYSE:SLB opened at $41.42 on Tuesday. The company has a 50 day moving average of $41.00 and a 200-day moving average of $41.46. The firm has a market cap of $56.32 billion, a P/E ratio of 13.32, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 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 for the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SLB shares. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Barclays dropped their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, TD Cowen boosted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.81.

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.