7,064 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Permanent Capital Management LP

Permanent Capital Management LP bought a new position in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, Holdings Channel reports. The fund bought 7,064 shares of the oil and gas company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings 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 acquiring an additional 528,279 shares during the period. Geode Capital Management LLC grew its stake in Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after buying an additional 239,966 shares in the last quarter. Pacer Advisors Inc. grew its stake in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after buying an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 buying an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Schlumberger by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,244,975 shares of the oil and gas company’s stock worth $316,112,000 after buying an additional 254,178 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 4.0 %

Shares of SLB opened at $41.36 on Friday. The stock has a market capitalization of $56.25 billion, a P/E ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47. 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 fifty day simple moving average of $40.73 and a two-hundred day simple moving average of $41.66. Schlumberger Limited has a twelve month low of $36.52 and a twelve month 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, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. On average, research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. 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 2.76%. Schlumberger’s dividend payout ratio is 36.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI reissued an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Barclays cut their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company cut their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by corporate insiders.

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.