Mackenzie Financial Corp Lowers Holdings in Schlumberger Limited (NYSE:SLB)

Mackenzie Financial Corp decreased its holdings in Schlumberger Limited (NYSE:SLB) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,125,014 shares of the oil and gas company’s stock after selling 82,389 shares during the quarter. Mackenzie Financial Corp owned 0.15% of Schlumberger worth $110,586,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after acquiring an additional 1,412,821 shares during the last quarter. FMR LLC lifted its stake in Schlumberger by 1.1% in the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after acquiring an additional 282,709 shares during the last quarter. Geode Capital Management LLC lifted its stake in Schlumberger by 1.6% in the first quarter. Geode Capital Management LLC now owns 25,347,967 shares of the oil and gas company’s stock worth $1,241,319,000 after acquiring an additional 401,606 shares during the last quarter. Norges Bank purchased a new position in Schlumberger in the fourth quarter worth approximately $1,008,286,000. Finally, Morgan Stanley lifted its stake in Schlumberger by 1.9% in the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after acquiring an additional 292,817 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $51.67 on Tuesday. The firm’s fifty day simple moving average is $51.36 and its 200-day simple moving average is $52.56. The stock has a market capitalization of $73.75 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.94 and a beta of 1.60. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. As a group, equities analysts forecast that Schlumberger Limited will post 3.52 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, February 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. Schlumberger’s payout ratio is currently 34.25%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SLB shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Barclays reduced their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. HSBC restated a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Bank of America boosted their price objective on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.31.

Insiders Place Their Bets

In other Schlumberger news, CAO Howard Guild sold 22,853 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the completion of the transaction, the chief accounting officer now owns 22,181 shares in the company, valued at approximately $1,145,870.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Schlumberger news, CAO Howard Guild sold 22,853 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the completion of the transaction, the chief accounting officer now owns 22,181 shares in the company, valued at approximately $1,145,870.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,191 shares of company stock worth $8,636,322. 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.