Ieq Capital LLC Has $4.22 Million Holdings in Schlumberger Limited (NYSE:SLB)

Ieq Capital LLC lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 71.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,117 shares of the oil and gas company’s stock after purchasing an additional 45,758 shares during the period. Ieq Capital LLC’s holdings in Schlumberger were worth $4,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after buying an additional 528,279 shares during the period. Geode Capital Management LLC grew its stake in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after acquiring an additional 239,966 shares in the last quarter. Pacer Advisors Inc. increased its position in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after acquiring an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Schlumberger by 12.7% in the 4th quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company’s stock valued at $310,696,000 after purchasing an additional 915,925 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,782 shares of company stock valued at $11,442,229. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent research reports. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stifel Nicolaus cut their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. raised their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Jefferies Financial Group dropped their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Trading Down 2.1 %

Shares of SLB stock opened at $41.73 on Friday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The stock’s fifty day simple moving average is $40.20 and its 200 day simple moving average is $41.91. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $58.45 billion, a P/E ratio of 13.42, a P/E/G ratio of 10.00 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal 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 given a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.73%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 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.