1,372,122 Shares in Schlumberger Limited (NYSE:SLB) Bought by Scharf Investments LLC

Scharf Investments LLC purchased a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,372,122 shares of the oil and gas company's stock, valued at approximately $52,607,000. Schlumberger comprises about 1.6% of Scharf Investments LLC's holdings, making the stock its 24th largest holding. Scharf Investments LLC owned approximately 0.10% of Schlumberger as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock valued at $3,808,476,000 after buying an additional 528,279 shares during the period. Geode Capital Management LLC raised its stake in Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock worth $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after buying an additional 12,938,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock valued at $470,425,000 after acquiring an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company's stock valued at $335,214,000 after purchasing an additional 31,718 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Down 0.3 %

Shares of Schlumberger stock traded down $0.12 during trading hours on Monday, reaching $40.16. 12,503,219 shares of the company's stock were exchanged, compared to its average volume of 15,149,306. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market cap of $56.26 billion, a P/E ratio of 12.91, a P/E/G ratio of 9.55 and a beta of 1.51. The company has a 50 day moving average of $40.49 and a two-hundred day moving average of $42.49. 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 (NYSE:SLB - Get Free Report) 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 analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.84%. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is currently 35.37%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays lowered their target price on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 18th. Sanford C. Bernstein upgraded shares of Schlumberger to a "strong-buy" rating in a report on Tuesday, November 12th. Susquehanna dropped their price objective on shares of Schlumberger from $60.00 to $56.00 and set a "positive" rating on the stock in a research note on Monday, October 21st. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective for the company. Finally, Jefferies Financial Group dropped their price target on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Six equities 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.81.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the company'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 transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the company's stock in a transaction that occurred 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 sale, the vice president now owns 11,240 shares in the company, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is currently 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.