Sumitomo Mitsui DS Asset Management Company Ltd Has $6.94 Million Position in Schlumberger Limited (NYSE:SLB)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Schlumberger Limited (NYSE:SLB) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 181,044 shares of the oil and gas company’s stock after purchasing an additional 11,801 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Schlumberger were worth $6,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the 3rd quarter worth $29,000. YANKCOM Partnership bought a new position in Schlumberger during the fourth quarter worth about $31,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger in the third quarter valued at about $37,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Schlumberger in the fourth quarter worth about $38,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.3 %

Schlumberger stock opened at $40.15 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company’s 50-day moving average is $40.25 and its 200-day moving average is $42.35. The firm has a market capitalization of $56.25 billion, a PE ratio of 12.91, a P/E/G ratio of 9.55 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.84%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insiders Place Their Bets

In other news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares in the company, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the transaction, the executive vice president now owns 184,626 shares in the company, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SLB. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. TD Cowen upped their target price on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Citigroup lifted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.