Asset Management One Co. Ltd. Has $26.72 Million Holdings in Schlumberger Limited (NYSE:SLB)

Asset Management One Co. Ltd. grew its holdings in Schlumberger Limited (NYSE:SLB) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 637,016 shares of the oil and gas company’s stock after acquiring an additional 30,761 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Schlumberger were worth $26,723,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Crescent Grove Advisors LLC acquired a new stake in shares of Schlumberger during the second quarter worth $257,000. National Bank of Canada FI lifted its holdings in shares of Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after buying an additional 11,813 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after buying an additional 64,974 shares during the period. Finally, Townsend Asset Management Corp NC ADV acquired a new stake in Schlumberger in the 3rd quarter valued at approximately $2,063,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent research reports. UBS Group reduced their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Stifel Nicolaus reiterated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Barclays reduced their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company dropped their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.97.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.4 %

SLB stock opened at $40.32 on Tuesday. The business has a 50-day simple moving average of $42.34 and a 200 day simple moving average of $45.03. The company has a market cap of $56.94 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $57.47.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. Sell-side analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

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.