Brandywine Global Investment Management LLC bought a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 891,391 shares of the oil and gas company's stock, valued at approximately $34,176,000. Brandywine Global Investment Management LLC owned approximately 0.06% of Schlumberger as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its position in Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock valued at $31,961,000 after acquiring an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock valued at $3,223,000 after purchasing an additional 16,350 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock valued at $7,592,000 after purchasing an additional 165,162 shares during the last quarter. Narwhal Capital Management boosted its holdings in Schlumberger by 225.5% in the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company's stock worth $2,862,000 after purchasing an additional 51,715 shares in the last quarter. Finally, Czech National Bank increased its position in Schlumberger by 5.8% during the fourth quarter. Czech National Bank now owns 306,183 shares of the oil and gas company's stock worth $11,739,000 after buying an additional 16,914 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SLB has been the subject of a number of analyst reports. TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Citigroup boosted their target price on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 target price on the stock. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average target price of $55.69.
Check Out Our Latest Stock Analysis on SLB
Schlumberger Price Performance
Shares of SLB stock traded down $2.77 during mid-day trading on Thursday, reaching $39.42. The company's stock had a trading volume of 19,745,012 shares, compared to its average volume of 12,253,610. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a market cap of $53.61 billion, a P/E ratio of 12.68, a PEG ratio of 10.10 and a beta of 1.11. The firm's 50-day moving average is $41.23 and its two-hundred day moving average is $41.50.
Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business's revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. On average, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.
Schlumberger Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.
Insider Buying and Selling at Schlumberger
In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now owns 11,240 shares of the company's stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction 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 sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75 % 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 worth $13,609,283 over the last ninety days. Corporate insiders own 0.26% of the company's stock.
About Schlumberger
(
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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