Nordea Investment Management AB Has $67.77 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Nordea Investment Management AB boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,767,647 shares of the oil and gas company’s stock after buying an additional 118,074 shares during the period. Nordea Investment Management AB’s holdings in Schlumberger were worth $67,772,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky lifted its stake in Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after purchasing an additional 16,350 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC grew its position in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SLB shares. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Evercore ISI lowered their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Bank of America reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Citigroup dropped their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Jefferies Financial Group reduced their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.25.

Schlumberger Stock Up 1.5 %

Shares of SLB stock opened at $39.33 on Wednesday. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock has a fifty day moving average price of $41.05 and a 200 day moving average price of $43.22. The stock has a market cap of $55.54 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.80%. Schlumberger’s payout ratio is presently 35.37%.

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.