Schlumberger Limited (NYSE:SLB) Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its position in Schlumberger Limited (NYSE:SLB) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,839 shares of the oil and gas company’s stock after purchasing an additional 10,231 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Schlumberger were worth $2,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Schlumberger during the 4th quarter worth about $735,398,000. Pacer Advisors Inc. raised its holdings 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 purchasing an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Schlumberger by 3,112.1% in the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the period. Finally, Deutsche Bank AG grew its holdings in Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Piper Sandler dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.32.

Schlumberger Stock Down 0.2%

Shares of NYSE:SLB opened at $36.04 on Thursday. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The stock has a market cap of $49.02 billion, a P/E ratio of 11.59, a PEG ratio of 10.10 and a beta of 1.06. The business has a fifty day moving average of $36.93 and a two-hundred day moving average of $39.64. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period in the previous year, the firm posted $0.75 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.16%. Schlumberger’s dividend payout ratio is currently 38.64%.

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.