Primecap Management Co. CA Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Primecap Management Co. CA grew its holdings in Schlumberger Limited (NYSE:SLB) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 997,300 shares of the oil and gas company’s stock after buying an additional 5,100 shares during the period. Primecap Management Co. CA’s holdings in Schlumberger were worth $41,837,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SLB. Acadian Asset Management LLC raised its position in Schlumberger by 4.1% during the first quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock valued at $471,000 after purchasing an additional 337 shares during the period. CreativeOne Wealth LLC raised its holdings in Schlumberger by 53.3% during the 1st quarter. CreativeOne Wealth LLC now owns 6,302 shares of the oil and gas company’s stock valued at $345,000 after buying an additional 2,192 shares during the period. Axxcess Wealth Management LLC lifted its position in Schlumberger by 10.3% in the first quarter. Axxcess Wealth Management LLC now owns 35,770 shares of the oil and gas company’s stock worth $1,961,000 after buying an additional 3,344 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after buying an additional 64,974 shares during the period. Finally, Linscomb Wealth Inc. increased its position in Schlumberger by 14.5% during the first quarter. Linscomb Wealth Inc. now owns 12,695 shares of the oil and gas company’s stock valued at $696,000 after acquiring an additional 1,608 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Morgan Stanley decreased their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Bank of America cut their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Two 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $44.10 on Friday. The stock has a market capitalization of $62.28 billion, a PE ratio of 14.18, a PEG ratio of 1.52 and a beta of 1.52. The company has a 50 day moving average price of $42.70 and a 200-day moving average price of $44.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

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, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

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.