Mirae Asset Global Investments Co. Ltd. Has $47.16 Million Stock Position in Schlumberger Limited $SLB

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Schlumberger Limited by 7.4%, owning approximately 1.39 million shares valued at $47.16 million.
• Institutional investors own 81.99% of Schlumberger's stock, with several firms, including Charles Schwab Investment Management Inc., significantly raising their positions.
• Schlumberger announced a quarterly dividend of $0.285 per share, marking a dividend yield of 3.3% and a payout ratio of 39.04%.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,395,246 shares of the oil and gas company's stock after buying an additional 96,490 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Schlumberger worth $47,159,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners lifted its holdings in Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Northern Trust Corp lifted its holdings in Schlumberger by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after purchasing an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Schlumberger by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock worth $375,738,000 after buying an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Schlumberger by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock worth $320,154,000 after buying an additional 281,937 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLB. Melius assumed coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Jefferies Financial Group reduced their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

Schlumberger Trading Down 2.8%

NYSE SLB opened at $34.13 on Friday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The firm has a market capitalization of $50.97 billion, a P/E ratio of 11.69, a PEG ratio of 9.74 and a beta of 0.97. The business has a fifty day simple moving average of $34.65 and a 200 day simple moving average of $35.23. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the firm posted $0.85 EPS. The business's revenue was down 6.5% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

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.

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