Charles Schwab Investment Management Inc. Has $316.11 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Charles Schwab Investment Management Inc. raised its holdings in Schlumberger Limited (NYSE:SLB) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,244,975 shares of the oil and gas company’s stock after purchasing an additional 254,178 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Schlumberger were worth $316,112,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SLB. Schechter Investment Advisors LLC grew its position in Schlumberger by 11.0% in the fourth quarter. Schechter Investment Advisors LLC now owns 31,362 shares of the oil and gas company’s stock valued at $1,202,000 after acquiring an additional 3,102 shares during the last quarter. Grandfield & Dodd LLC boosted its stake in shares of Schlumberger by 27.4% in the 4th quarter. Grandfield & Dodd LLC now owns 9,071 shares of the oil and gas company’s stock valued at $348,000 after purchasing an additional 1,950 shares in the last quarter. Fidelis Capital Partners LLC increased its position in Schlumberger by 12.6% during the 4th quarter. Fidelis Capital Partners LLC now owns 12,493 shares of the oil and gas company’s stock worth $502,000 after purchasing an additional 1,400 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Schlumberger in the 4th quarter valued at approximately $111,000. Finally, Jones Financial Companies Lllp boosted its position in Schlumberger by 69.1% in the fourth quarter. Jones Financial Companies Lllp now owns 44,662 shares of the oil and gas company’s stock valued at $1,712,000 after buying an additional 18,255 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Up 1.0 %

Shares of NYSE:SLB opened at $39.47 on Thursday. 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 Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The business’s 50 day simple moving average is $40.62 and its two-hundred day simple moving average is $41.70. The firm has a market cap of $53.67 billion, a P/E ratio of 12.69, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last issued 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period last year, the business earned $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 2.89%. 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 dividend payout ratio is currently 36.66%.

Insider Activity at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. The trade was a 40.00 % 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 valued at $12,546,660. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SLB has been the subject of several research analyst reports. Wells Fargo & Company lowered their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Barclays dropped their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, Stifel Nicolaus reduced their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Six equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price 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.