Mirae Asset Global Investments Co. Ltd. grew its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 29.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,212 shares of the oil and gas company's stock after purchasing an additional 25,911 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Schlumberger were worth $4,279,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dynamic Advisor Solutions LLC boosted its position in Schlumberger by 7.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 10,365 shares of the oil and gas company's stock worth $435,000 after acquiring an additional 696 shares during the period. Independence Bank of Kentucky boosted its holdings in shares of Schlumberger by 4.3% during the third quarter. Independence Bank of Kentucky now owns 22,010 shares of the oil and gas company's stock worth $923,000 after purchasing an additional 916 shares during the period. Valeo Financial Advisors LLC grew its position in Schlumberger by 32.2% during the third quarter. Valeo Financial Advisors LLC now owns 31,125 shares of the oil and gas company's stock valued at $1,306,000 after purchasing an additional 7,589 shares in the last quarter. Inspire Investing LLC increased its stake in Schlumberger by 2.9% in the 3rd quarter. Inspire Investing LLC now owns 137,990 shares of the oil and gas company's stock valued at $5,789,000 after buying an additional 3,909 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Schlumberger by 205.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,636 shares of the oil and gas company's stock worth $656,000 after buying an additional 10,520 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.
NYSE SLB opened at $40.15 on Friday. The stock's 50 day simple moving average is $40.17 and its 200 day simple moving average is $42.28. 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 Limited has a one year low of $36.52 and a one year high of $55.69. The firm has a market cap of $56.25 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51.
Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. Schlumberger's payout ratio is 36.66%.
In other news, VP Ugo Prechner sold 7,000 shares of Schlumberger 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 completion of the transaction, the vice president now owns 11,240 shares of the company's stock, valued at $496,808. This trade represents a 38.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the 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 completion of the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 263,782 shares of company stock worth $11,442,229. Corporate insiders own 0.26% of the company's stock.
A number of equities analysts have recently weighed in on SLB shares. JPMorgan Chase & Co. upped their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Bank of America dropped their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Stifel Nicolaus reduced their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Six 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.com, the company has an average rating of "Moderate Buy" and an average target price of $55.81.
View Our Latest Analysis on 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.
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