Schlumberger Limited (NYSE:SLB) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Schlumberger Limited (NYSE:SLB) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 229,435 shares of the oil and gas company’s stock after acquiring an additional 8,299 shares during the period. CIBC Asset Management Inc’s holdings in Schlumberger were worth $8,797,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SLB. Capital Investment Advisors LLC increased its holdings in shares of Schlumberger by 8.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 9,426 shares of the oil and gas company’s stock worth $395,000 after buying an additional 768 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Schlumberger by 24.3% during the 3rd quarter. Raymond James & Associates now owns 1,105,148 shares of the oil and gas company’s stock worth $46,361,000 after buying an additional 215,773 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Schlumberger by 12.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 957,126 shares of the oil and gas company’s stock worth $40,151,000 after buying an additional 108,311 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Schlumberger by 17.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 2,578 shares of the oil and gas company’s stock worth $108,000 after buying an additional 379 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV acquired a new stake in shares of Schlumberger during the 3rd quarter worth approximately $2,063,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on 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 sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The stock was 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. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock worth $11,442,229 in the last ninety days. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

Schlumberger stock opened at $42.63 on Wednesday. The stock has a market cap of $59.71 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The company has a fifty day simple moving average of $40.09 and a 200-day simple moving average of $41.93. Schlumberger Limited has a 12-month low of $36.52 and a 12-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 quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLB. JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Piper Sandler assumed coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. TD Cowen increased their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger 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.