Great Lakes Retirement Inc. Has $9.88 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Great Lakes Retirement Inc. lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 60.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 257,784 shares of the oil and gas company’s stock after acquiring an additional 97,375 shares during the period. Schlumberger accounts for about 1.3% of Great Lakes Retirement Inc.’s portfolio, making the stock its 21st biggest position. Great Lakes Retirement Inc.’s holdings in Schlumberger were worth $9,883,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SLB. Teachers Retirement System of The State of Kentucky increased its position in shares of Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 16,350 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after purchasing an additional 63,413 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 1.3 %

Shares of NYSE SLB opened at $41.75 on Wednesday. The business has a 50-day simple moving average of $40.12 and a two-hundred day simple moving average of $42.14. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a market cap of $58.49 billion, a P/E ratio of 13.43, a P/E/G ratio of 9.49 and a beta of 1.51. 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 (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 EPS. Research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly 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. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 over the last three months. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Barclays lowered their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Finally, Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

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.