City Center Advisors LLC Grows Position in Schlumberger Limited (NYSE:SLB)

City Center Advisors LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 22.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,359 shares of the oil and gas company’s stock after buying an additional 1,899 shares during the period. City Center Advisors LLC’s holdings in Schlumberger were worth $397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after acquiring an additional 239,966 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after purchasing an additional 31,718 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 0.4 %

NYSE SLB opened at $38.66 on Monday. 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 $36.52 and a 52 week high of $55.69. The firm has a market capitalization of $54.59 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.42 and a beta of 1.52. The company has a fifty day moving average of $40.97 and a two-hundred day moving average of $43.05.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.85%. Schlumberger’s dividend payout ratio is 35.37%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLB. Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target for the company. Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Finally, Citigroup reduced their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.58.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

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.