Ilmarinen Mutual Pension Insurance Co Boosts Stake in Schlumberger Limited (NYSE:SLB)

Ilmarinen Mutual Pension Insurance Co raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 40.4% during the 4th quarter, Holdings Channel reports. The fund owned 220,685 shares of the oil and gas company’s stock after purchasing an additional 63,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Schlumberger were worth $8,461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its holdings in Schlumberger by 10.4% in the third quarter. Integrated Wealth Concepts LLC now owns 57,183 shares of the oil and gas company’s stock worth $2,399,000 after purchasing an additional 5,391 shares in the last quarter. IHT Wealth Management LLC lifted its position in Schlumberger by 6.5% during the third quarter. IHT Wealth Management LLC now owns 6,416 shares of the oil and gas company’s stock valued at $270,000 after acquiring an additional 394 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in Schlumberger by 2.9% during the third quarter. Royal London Asset Management Ltd. now owns 599,593 shares of the oil and gas company’s stock valued at $25,153,000 after acquiring an additional 16,826 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Schlumberger by 15.3% in the third quarter. Quantinno Capital Management LP now owns 133,616 shares of the oil and gas company’s stock valued at $5,605,000 after acquiring an additional 17,709 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Schlumberger during the third quarter worth $2,022,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Down 11.3 %

Shares of Schlumberger stock opened at $34.77 on Friday. Schlumberger Limited has a fifty-two week low of $34.04 and a fifty-two week high of $55.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a market cap of $47.28 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The firm has a 50-day simple moving average of $41.02 and a two-hundred day simple moving average of $41.45.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating 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 business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 3.28%. The ex-dividend date was Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

Analyst Ratings Changes

Several research analysts recently weighed in on SLB shares. Jefferies Financial Group dropped their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company dropped their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Piper Sandler assumed coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Barclays dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $54.79.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is owned by corporate insiders.

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.