First Eagle Investment Management LLC Has $1.07 Billion Position in Schlumberger Limited (NYSE:SLB)

First Eagle Investment Management LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,836,555 shares of the oil and gas company’s stock after purchasing an additional 343,261 shares during the quarter. Schlumberger accounts for about 2.4% of First Eagle Investment Management LLC’s portfolio, making the stock its 15th biggest position. First Eagle Investment Management LLC owned about 1.99% of Schlumberger worth $1,067,254,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SLB. Ashton Thomas Securities LLC bought a new stake in Schlumberger in the 3rd quarter valued at approximately $37,000. Venturi Wealth Management LLC lifted its stake in Schlumberger by 84.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,294 shares of the oil and gas company’s stock valued at $96,000 after acquiring an additional 1,047 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Schlumberger in the 3rd quarter valued at approximately $586,000. Victory Capital Management Inc. lifted its stake in Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its stake in Schlumberger by 4.4% in the 3rd quarter. Empower Advisory Group LLC now owns 7,835 shares of the oil and gas company’s stock valued at $329,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $39.92 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock’s fifty day moving average price is $40.90 and its two-hundred day moving average price is $41.55. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The firm has a market cap of $54.28 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. On average, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 36.66%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Jefferies Financial Group dropped their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Barclays dropped their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insider Buying and Selling

In related news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock worth $12,546,660 in the last ninety days. 0.26% of the stock is owned by insiders.

About Schlumberger

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.