Mitsubishi UFJ Asset Management Co. Ltd. Has $76.94 Million Position in Schlumberger Limited (NYSE:SLB)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,461,291 shares of the oil and gas company's stock after purchasing an additional 56,477 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of Schlumberger worth $76,937,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SLB. Assetmark Inc. raised its stake in Schlumberger by 18.4% during the third quarter. Assetmark Inc. now owns 48,902 shares of the oil and gas company's stock valued at $2,851,000 after buying an additional 7,595 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Schlumberger by 21.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 120,140 shares of the oil and gas company's stock valued at $7,004,000 after acquiring an additional 21,373 shares in the last quarter. Congress Wealth Management LLC DE lifted its stake in Schlumberger by 11.5% during the third quarter. Congress Wealth Management LLC DE now owns 10,994 shares of the oil and gas company's stock worth $641,000 after purchasing an additional 1,135 shares during the last quarter. Meritage Portfolio Management lifted its stake in Schlumberger by 2.8% during the third quarter. Meritage Portfolio Management now owns 14,285 shares of the oil and gas company's stock worth $833,000 after purchasing an additional 385 shares during the last quarter. Finally, Eagle Global Advisors LLC bought a new stake in Schlumberger during the third quarter valued at $233,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares of the company's stock, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold 119,345 shares of company stock worth $5,774,965 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

SLB traded down $0.14 during trading on Tuesday, reaching $48.61. The stock had a trading volume of 8,404,579 shares, compared to its average volume of 10,924,060. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The firm has a market capitalization of $69.48 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 0.93 and a beta of 1.64. The stock has a 50 day moving average of $51.58 and a two-hundred day moving average of $51.27. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.70 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company's quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.26%. This is a boost from Schlumberger's previous quarterly dividend of $0.25. Schlumberger's payout ratio is currently 36.54%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLB. Wells Fargo & Company downgraded shares of Schlumberger from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an "outperform" rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada upped their target price on Schlumberger from $66.00 to $69.00 and gave the company an "outperform" rating in a report on Wednesday, April 3rd. Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Finally, HSBC reaffirmed a "buy" rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $68.72.

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.