Azimuth Capital Investment Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 14.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 317,584 shares of the oil and gas company's stock after selling 55,100 shares during the period. Azimuth Capital Investment Management LLC's holdings in Schlumberger were worth $12,176,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Norges Bank bought a new stake in Schlumberger during the 4th quarter valued at $735,398,000. Pacer Advisors Inc. boosted its position in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. Clearbridge Investments LLC grew its stake in Schlumberger by 43,028.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after purchasing an additional 2,646,653 shares during the last quarter. Franklin Resources Inc. grew its stake in Schlumberger by 12.4% in the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock valued at $590,320,000 after purchasing an additional 1,700,203 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Schlumberger by 196.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company's stock worth $88,654,000 after purchasing an additional 1,533,366 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.
Schlumberger Stock Performance
Shares of SLB traded down $0.18 during mid-day trading on Monday, reaching $33.78. The company had a trading volume of 5,044,278 shares, compared to its average volume of 17,450,475. The stock has a 50 day moving average of $39.99 and a two-hundred day moving average of $41.03. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $45.94 billion, a P/E ratio of 10.86, a PEG ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $52.91.
Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. During the same quarter last year, the company earned $0.86 EPS. The business's revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.
Schlumberger Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were given a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.37%. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is 36.66%.
Insider Transactions at Schlumberger
In other news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 315,905 shares of company stock valued at $13,609,283 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SLB. Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price objective on the stock. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Evercore ISI reiterated an "in-line" rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Susquehanna lowered their price objective on Schlumberger from $55.00 to $48.00 and set a "positive" rating for the company in a research report on Monday. Finally, Wells Fargo & Company raised Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.21.
Read Our Latest Stock Analysis on SLB
Schlumberger Profile
(
Free Report)
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.
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