Schlumberger Limited (NYSE:SLB) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,125,014 shares of the oil and gas company’s stock after selling 82,389 shares during the quarter. Mackenzie Financial Corp’s holdings in Schlumberger were worth $110,586,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Schlumberger in the fourth quarter worth $1,008,286,000. Price T Rowe Associates Inc. MD boosted its holdings in Schlumberger by 200.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock worth $527,173,000 after purchasing an additional 7,158,943 shares during the period. Royal Bank of Canada boosted its holdings in Schlumberger by 79.7% in the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after purchasing an additional 2,182,706 shares during the period. Sanders Capital LLC boosted its holdings in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after purchasing an additional 2,085,506 shares during the period. Finally, Invesco Ltd. boosted its holdings in Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after purchasing an additional 1,954,620 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. Bank of America boosted their price target on shares of Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday. HSBC reissued a “buy” rating and set a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Finally, Barclays reduced their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.31.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

Shares of NYSE SLB opened at $51.67 on Tuesday. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The firm’s 50-day simple moving average is $51.36 and its 200 day simple moving average is $52.56. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The stock has a market cap of $73.75 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.94 and a beta of 1.60.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same period in the previous year, the business earned $0.71 earnings per share. Schlumberger’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.52 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, February 7th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is presently 34.25%.

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.