Invesco Ltd. Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Invesco Ltd. grew its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,377,240 shares of the oil and gas company's stock after purchasing an additional 596,008 shares during the period. Invesco Ltd. owned approximately 0.53% of Schlumberger worth $282,843,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. MML Investors Services LLC increased its position in shares of Schlumberger by 21.0% during the third quarter. MML Investors Services LLC now owns 181,655 shares of the oil and gas company's stock worth $7,620,000 after acquiring an additional 31,551 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Schlumberger in the 3rd quarter worth $232,000. Coldstream Capital Management Inc. grew its position in shares of Schlumberger by 7.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 25,203 shares of the oil and gas company's stock worth $1,058,000 after buying an additional 1,662 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Schlumberger by 0.9% in the third quarter. Toronto Dominion Bank now owns 716,427 shares of the oil and gas company's stock valued at $30,054,000 after acquiring an additional 6,493 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Schlumberger by 4.9% in the third quarter. Sunbelt Securities Inc. now owns 24,276 shares of the oil and gas company's stock worth $1,018,000 after acquiring an additional 1,124 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $59.00 to $58.00 and set a "buy" rating for the company in a research note on Tuesday. BMO Capital Markets lowered their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. TD Cowen lifted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, Barclays dropped their price target on Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.15.

Schlumberger Price Performance

Shares of NYSE SLB traded up $0.69 during trading on Wednesday, hitting $34.45. The company had a trading volume of 3,292,500 shares, compared to its average volume of 17,316,727. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $51.96. The stock has a fifty day simple moving average of $39.72 and a two-hundred day simple moving average of $40.92. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $46.84 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were given a dividend of $0.285 per share. This is an increase from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 3.31%. Schlumberger's dividend payout ratio (DPR) is presently 36.66%.

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.