Zurcher Kantonalbank Zurich Cantonalbank Has $27.08 Million Position in Schlumberger Limited (NYSE:SLB)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Schlumberger Limited (NYSE:SLBGet Rating) by 68.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 655,440 shares of the oil and gas company’s stock after acquiring an additional 267,299 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Schlumberger were worth $27,076,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Schlumberger by 16.9% in the fourth quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock valued at $3,339,042,000 after buying an additional 16,123,949 shares during the period. State Street Corp increased its stake in shares of Schlumberger by 0.6% in the fourth quarter. State Street Corp now owns 91,556,288 shares of the oil and gas company’s stock valued at $2,753,092,000 after buying an additional 554,778 shares during the period. Norges Bank acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $938,856,000. Boston Partners increased its stake in shares of Schlumberger by 6.5% in the fourth quarter. Boston Partners now owns 24,189,830 shares of the oil and gas company’s stock valued at $725,420,000 after buying an additional 1,474,462 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Schlumberger by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 23,408,484 shares of the oil and gas company’s stock valued at $699,052,000 after acquiring an additional 714,053 shares during the last quarter. 76.34% of the stock is owned by institutional investors.

SLB has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on Schlumberger from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, April 25th. Piper Sandler upgraded Schlumberger from a “neutral” rating to an “overweight” rating and upped their target price for the company from $43.00 to $55.00 in a report on Monday, April 11th. Stifel Nicolaus upped their target price on Schlumberger from $44.00 to $50.00 in a report on Friday, April 8th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Finally, Cowen upped their target price on Schlumberger from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, March 31st. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.85.

In related news, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $15.50, for a total value of $224,750,000.00. Following the completion of the sale, the insider now directly owns 35,101,961 shares of the company’s stock, valued at approximately $544,080,395.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 20,000 shares of the stock in a transaction on Friday, May 6th. The shares were sold at an average price of $43.32, for a total value of $866,400.00. Following the completion of the sale, the director now directly owns 46,529 shares of the company’s stock, valued at $2,015,636.28. The disclosure for this sale can be found here. Insiders have sold 26,567,459 shares of company stock worth $430,840,521 over the last ninety days. 0.28% of the stock is owned by insiders.

Shares of NYSE:SLB opened at $35.65 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.24 and a debt-to-equity ratio of 0.84. Schlumberger Limited has a twelve month low of $25.90 and a twelve month high of $49.83. The stock’s 50 day moving average is $41.55 and its 200-day moving average is $39.46. The firm has a market capitalization of $50.39 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 0.41 and a beta of 1.90.

Schlumberger (NYSE:SLBGet Rating) last issued its earnings results on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the firm earned $0.21 earnings per share. Schlumberger’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited will post 1.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, May 31st. Schlumberger’s dividend payout ratio is presently 47.62%.

About Schlumberger (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

Read More

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLBGet Rating).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.