Simon Quick Advisors LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Simon Quick Advisors LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 5.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,344 shares of the oil and gas company’s stock after purchasing an additional 396 shares during the period. Simon Quick Advisors LLC’s holdings in Schlumberger were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Schlumberger by 0.6% during the 3rd 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 during the last quarter. Geode Capital Management LLC raised its position in Schlumberger by 0.8% during the third 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 in the last quarter. Legal & General Group Plc lifted its holdings in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after acquiring an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Schlumberger by 0.4% during the 3rd 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 and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the 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 transaction, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger 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 sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,258 shares of company stock valued at $8,732,604 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB opened at $41.99 on Friday. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The stock has a market cap of $59.29 billion, a PE ratio of 13.50, a P/E/G ratio of 3.58 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a 50 day moving average price of $40.79 and a 200 day moving average price of $42.79.

Schlumberger (NYSE:SLB) last issued its earnings results 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. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. Equities research analysts expect that Schlumberger Limited will post 3.33 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.72%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 35.37%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. Citigroup increased their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group dropped their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. 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 company’s stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

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.