Boston Partners Raises Stake in Schlumberger Limited (NYSE:SLB)

Boston Partners raised its position in Schlumberger Limited (NYSE:SLB) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,529,159 shares of the oil and gas company’s stock after acquiring an additional 1,405,186 shares during the quarter. Boston Partners owned approximately 1.11% of Schlumberger worth $597,356,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR purchased a new position in Schlumberger in the fourth quarter worth approximately $8,227,000. Horizon Investments LLC raised its holdings in Schlumberger by 3.1% during the fourth quarter. Horizon Investments LLC now owns 22,303 shares of the oil and gas company’s stock worth $849,000 after purchasing an additional 671 shares in the last quarter. Delphi Management Inc. MA raised its holdings in Schlumberger by 15.5% during the fourth quarter. Delphi Management Inc. MA now owns 35,334 shares of the oil and gas company’s stock worth $1,355,000 after purchasing an additional 4,755 shares in the last quarter. Aspen Wealth Strategies LLC raised its holdings in Schlumberger by 19.4% during the fourth quarter. Aspen Wealth Strategies LLC now owns 16,881 shares of the oil and gas company’s stock worth $647,000 after purchasing an additional 2,742 shares in the last quarter. Finally, 1ST Source Bank raised its holdings in Schlumberger by 3.2% during the fourth quarter. 1ST Source Bank now owns 10,885 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.8 %

Shares of NYSE SLB opened at $41.42 on Tuesday. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The firm’s 50 day moving average price is $41.00 and its 200 day moving average price is $41.46. The firm has a market cap of $56.32 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared 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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 in the last quarter. 0.26% of the stock is owned by insiders.

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.