429,198 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 429,198 shares of the oil and gas company’s stock, valued at approximately $16,422,000.

Several other large investors have also modified their holdings of SLB. YANKCOM Partnership purchased a new stake in Schlumberger in the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at approximately $34,000. Hager Investment Management Services LLC purchased a new position in shares of Schlumberger during the 4th quarter worth approximately $38,000. Finally, Bogart Wealth LLC increased its holdings in Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SLB. Citigroup upped their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Stifel Nicolaus cut their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company reduced their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.79.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of Schlumberger 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 transaction, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 315,905 shares of company stock valued at $13,609,283 over the last ninety days. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 11.3 %

NYSE:SLB opened at $34.77 on Friday. Schlumberger Limited has a 1 year low of $34.04 and a 1 year high of $55.65. The stock has a market cap of $47.28 billion, a P/E ratio of 11.18, a P/E/G ratio of 10.10 and a beta of 1.11. 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 simple moving average of $41.02 and a 200-day simple moving average of $41.45.

Schlumberger (NYSE:SLB) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were paid a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 3.28%. The ex-dividend date was Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.