Schlumberger Limited (NYSE:SLB) Stock Holdings Boosted by Busey Bank

Busey Bank raised its position in shares of Schlumberger Limited (NYSE:SLB) by 74.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 346,442 shares of the oil and gas company’s stock after purchasing an additional 148,172 shares during the quarter. Busey Bank’s holdings in Schlumberger were worth $13,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after acquiring an additional 63,413 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,258 shares of company stock worth $11,219,004. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $40.87 on Thursday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The business has a 50-day moving average of $40.69 and a two-hundred day moving average of $42.66. The stock has a market capitalization of $57.71 billion, a P/E ratio of 13.14, a P/E/G ratio of 9.98 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

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 company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger Limited will post 3.34 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.79%. Schlumberger’s payout ratio is presently 35.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SLB shares. TD Cowen raised their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Barclays decreased their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.81.

About Schlumberger

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.