Schlumberger Limited (NYSE:SLB) Shares Acquired by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. increased its position in shares of Schlumberger Limited (NYSE:SLB) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,108,295 shares of the oil and gas company’s stock after purchasing an additional 322,930 shares during the period. Schlumberger makes up about 4.7% of Platinum Investment Management Ltd.’s portfolio, making the stock its 6th biggest holding. Platinum Investment Management Ltd. owned approximately 0.15% of Schlumberger worth $80,832,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the 3rd quarter worth approximately $29,000. YANKCOM Partnership acquired a new stake in Schlumberger during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $34,000. Finally, Hager Investment Management Services LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,772 shares of company stock worth $12,546,660. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.8 %

Shares of SLB stock opened at $41.11 on Wednesday. The firm has a market capitalization of $55.90 billion, a P/E ratio of 13.22, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. 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 stock’s fifty day simple moving average is $41.04 and its 200 day simple moving average is $41.44.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal 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 given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.77%. 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. Schlumberger’s payout ratio is 36.66%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. TD Cowen lifted their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

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.