Schlumberger Limited (NYSE:SLB) Stake Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in Schlumberger Limited (NYSE:SLB) by 3,112.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,627,051 shares of the oil and gas company’s stock after purchasing an additional 3,514,134 shares during the quarter. Lazard Asset Management LLC’s holdings in Schlumberger were worth $139,059,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. YANKCOM Partnership acquired a new position in Schlumberger in the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger during the 4th quarter valued at approximately $38,000. Finally, Bogart Wealth LLC grew its stake in Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after buying an additional 844 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

NYSE:SLB opened at $34.51 on Monday. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The stock has a market cap of $46.94 billion, a P/E ratio of 11.10, a PEG ratio of 10.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a fifty day moving average price of $37.18 and a 200 day moving average price of $39.73.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the company posted $0.75 earnings per share. Schlumberger’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.30%. Schlumberger’s dividend payout ratio is currently 38.64%.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value 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 $1,311,990.68. This represents a 44.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Susquehanna decreased their price objective on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a report on Monday, April 28th. Finally, BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Five 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.32.

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.