Brandywine Global Investment Management LLC Invests $34.18 Million in Schlumberger Limited (NYSE:SLB)

Brandywine Global Investment Management LLC acquired a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 891,391 shares of the oil and gas company’s stock, valued at approximately $34,176,000. Brandywine Global Investment Management LLC owned about 0.06% of Schlumberger at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Private Trust Co. NA increased its holdings in shares of Schlumberger by 23.8% during the 3rd quarter. Private Trust Co. NA now owns 2,281 shares of the oil and gas company’s stock valued at $96,000 after acquiring an additional 439 shares during the last quarter. Townsquare Capital LLC grew its holdings in Schlumberger by 25.2% during the third quarter. Townsquare Capital LLC now owns 37,094 shares of the oil and gas company’s stock valued at $1,556,000 after purchasing an additional 7,464 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Schlumberger by 5.9% in the third quarter. Glenmede Trust Co. NA now owns 109,415 shares of the oil and gas company’s stock valued at $4,590,000 after purchasing an additional 6,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Schlumberger by 1.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 623,004 shares of the oil and gas company’s stock worth $26,135,000 after buying an additional 11,611 shares during the last quarter. Finally, Fiduciary Trust Co boosted its holdings in shares of Schlumberger by 25.8% during the 3rd quarter. Fiduciary Trust Co now owns 57,084 shares of the oil and gas company’s stock worth $2,395,000 after buying an additional 11,714 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. BMO Capital Markets dropped their price target on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. TD Cowen raised their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $41.87 on Friday. The stock has a market capitalization of $56.93 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47. The firm’s 50-day moving average price is $41.29 and its two-hundred day moving average price is $41.46. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.65.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.72%. 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%.

Insiders Place Their Bets

In related news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 290,772 shares of company stock valued at $12,546,660. 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.