Dai ichi Life Insurance Company Ltd Has $5.14 Million Holdings in Schlumberger Limited (NYSE:SLB)

Dai ichi Life Insurance Company Ltd decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 14.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,539 shares of the oil and gas company’s stock after selling 20,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Schlumberger were worth $5,141,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SLB. Boston Partners lifted its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in Schlumberger during the 2nd quarter worth $92,944,000. 1832 Asset Management L.P. acquired a new position in Schlumberger during the 2nd quarter worth $91,364,000. Legal & General Group Plc lifted its holdings in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Schlumberger by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after buying an additional 915,705 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $43.47 on Wednesday. The stock has a 50-day moving average price of $42.89 and a two-hundred day moving average price of $44.46. The stock has a market cap of $61.39 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.55 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The company’s revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. Schlumberger’s dividend payout ratio is 35.37%.

Analysts Set New Price Targets

Several research analysts have issued reports on SLB shares. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. UBS Group dropped their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Dbs Bank initiated coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. TD Cowen dropped their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, BMO Capital Markets lowered their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

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.