Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 144,686 Schlumberger Limited (NYSE:SLB)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 144,686 shares of the oil and gas company’s stock, valued at approximately $7,529,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger in the fourth quarter worth about $26,000. Transcendent Capital Group LLC purchased a new position in Schlumberger during the fourth quarter worth approximately $32,000. Janiczek Wealth Management LLC grew its holdings in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares during the period. Pinnacle Bancorp Inc. increased its position in shares of Schlumberger by 64.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 292 shares in the last quarter. Finally, American National Bank raised its stake in shares of Schlumberger by 745.5% during the 4th quarter. American National Bank now owns 744 shares of the oil and gas company’s stock worth $39,000 after buying an additional 656 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Susquehanna reissued a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Royal Bank of Canada raised their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.06.

Schlumberger Price Performance

Schlumberger stock opened at $43.63 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The stock has a market cap of $62.36 billion, a P/E ratio of 14.50, a PEG ratio of 0.83 and a beta of 1.58. The company has a 50-day moving average price of $47.76 and a 200 day moving average price of $49.84. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. Schlumberger’s payout ratio is presently 36.54%.

Insider Buying and Selling

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the transaction, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the sale, the insider now owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,158 shares of company stock valued at $5,099,893. Corporate insiders own 0.26% of the company’s stock.

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.