AMF Tjanstepension AB Has $51.38 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

AMF Tjanstepension AB lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 273.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,338,376 shares of the oil and gas company’s stock after buying an additional 979,820 shares during the quarter. AMF Tjanstepension AB owned about 0.10% of Schlumberger worth $51,384,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in Schlumberger in the 3rd quarter worth about $29,000. YANKCOM Partnership bought a new position in shares of Schlumberger during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the fourth quarter valued at approximately $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the third quarter worth approximately $37,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.36 on Friday. The firm has a market capitalization of $56.25 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $40.73 and its 200-day moving average price is $41.66. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same period last year, the company earned $0.86 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. Schlumberger’s payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SLB shares. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Stifel Nicolaus dropped their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Evercore ISI reiterated an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Insider Activity at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 over the last three months. Company insiders own 0.26% of the company’s stock.

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.