Schlumberger Limited (NYSE:SLB) Stock Holdings Lessened by Korea Investment CORP

Korea Investment CORP lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 11.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,477,498 shares of the oil and gas company’s stock after selling 197,767 shares during the quarter. Korea Investment CORP’s holdings in Schlumberger were worth $56,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SLB. Penserra Capital Management LLC grew its stake in Schlumberger by 9,041.9% during the 3rd quarter. Penserra Capital Management LLC now owns 10,696 shares of the oil and gas company’s stock worth $448,000 after buying an additional 10,579 shares during the last quarter. Private Trust Co. NA grew its position in shares of Schlumberger by 23.8% during the third quarter. Private Trust Co. NA now owns 2,281 shares of the oil and gas company’s stock worth $96,000 after acquiring an additional 439 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Schlumberger by 2.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,215,726 shares of the oil and gas company’s stock worth $51,000,000 after acquiring an additional 24,377 shares during the period. D.A. Davidson & CO. lifted its position in Schlumberger by 24.9% in the 3rd quarter. D.A. Davidson & CO. now owns 127,053 shares of the oil and gas company’s stock valued at $5,330,000 after purchasing an additional 25,368 shares during the last quarter. Finally, Avestar Capital LLC grew its position in Schlumberger by 12.1% in the 3rd quarter. Avestar Capital LLC now owns 6,192 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 670 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $42.14 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 fifty day simple moving average of $41.32 and a 200-day simple moving average of $41.43. The stock has a market capitalization of $57.31 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) 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 analyst estimates of $9.24 billion. During the same quarter last year, the firm posted $0.86 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current 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 paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.71%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is presently 36.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. TD Cowen boosted their price target 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.69.

Insider Transactions at Schlumberger

In related news, insider Bejar Carmen Rando sold 5,524 shares of the firm’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 value of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. Corporate insiders own 0.26% of the company’s stock.

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.