BI Asset Management Fondsmaeglerselskab A S Acquires 38,468 Shares of Schlumberger Limited (NYSE:SLB)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in Schlumberger Limited (NYSE:SLB) by 36.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,369 shares of the oil and gas company’s stock after buying an additional 38,468 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Schlumberger were worth $7,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Schlumberger by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after buying an additional 1,753,108 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after purchasing an additional 8,617,971 shares during the last quarter. Capital World Investors grew its holdings in shares of Schlumberger by 2.2% in the 4th quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock worth $2,686,173,000 after purchasing an additional 1,133,686 shares during the last quarter. Norges Bank bought a new stake in shares of Schlumberger in the 4th quarter worth about $1,000,292,000. Finally, Capital International Investors grew its holdings in shares of Schlumberger by 0.6% in the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock worth $770,122,000 after purchasing an additional 89,483 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. Barclays reduced their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Bank of America cut their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada upped their target price on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus restated a “buy” rating and set a $64.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.59.

Insider Buying and Selling

In other news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The disclosure for this sale can be found here. In the last three months, insiders sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Down 0.9 %

NYSE SLB traded down $0.40 during trading hours on Wednesday, reaching $44.80. 2,158,968 shares of the company’s stock were exchanged, compared to its average volume of 11,145,347. The company’s 50-day moving average is $46.33 and its two-hundred day moving average is $49.31. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $64.03 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the prior year, the business earned $0.63 EPS. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.46%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

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.