Toronto Dominion Bank Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Toronto Dominion Bank boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 808,535 shares of the oil and gas company's stock after buying an additional 92,108 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Schlumberger worth $30,999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Norges Bank purchased a new position in shares of Schlumberger in the fourth quarter valued at $735,398,000. Pacer Advisors Inc. boosted its stake in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after buying an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after buying an additional 3,514,134 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after buying an additional 3,119,543 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

Schlumberger stock opened at $35.74 on Monday. The firm has a fifty day simple moving average of $36.74 and a two-hundred day simple moving average of $39.56. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a market capitalization of $48.61 billion, a PE ratio of 11.49, a P/E/G ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company's revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.75 EPS. Research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given 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 3.19%. Schlumberger's payout ratio is currently 38.64%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SLB shares. Stifel Nicolaus reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Royal Bank of Canada restated an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Susquehanna lowered their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.44.

Insider Activity

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This trade 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.

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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