Corebridge Financial Inc. Has $13.37 Million Holdings in Schlumberger Limited (NYSE:SLB)

Corebridge Financial Inc. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,793 shares of the oil and gas company's stock after selling 17,440 shares during the quarter. Corebridge Financial Inc.'s holdings in Schlumberger were worth $13,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SLB. Cerity Partners LLC boosted its position in shares of Schlumberger by 45.7% during the 3rd quarter. Cerity Partners LLC now owns 321,362 shares of the oil and gas company's stock valued at $13,481,000 after purchasing an additional 100,723 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Schlumberger by 9,041.9% in the 3rd quarter. Penserra Capital Management LLC now owns 10,696 shares of the oil and gas company's stock worth $448,000 after acquiring an additional 10,579 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Schlumberger by 16.6% during the third quarter. Daiwa Securities Group Inc. now owns 180,901 shares of the oil and gas company's stock worth $7,589,000 after purchasing an additional 25,713 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Schlumberger by 5.5% during the third quarter. Fisher Asset Management LLC now owns 1,159,818 shares of the oil and gas company's stock valued at $48,654,000 after purchasing an additional 60,070 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Schlumberger by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 18,501 shares of the oil and gas company's stock valued at $776,000 after purchasing an additional 511 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have commented on SLB shares. Evercore ISI reaffirmed an "in-line" rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Stifel Nicolaus reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 17th. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 target price for the company. Finally, Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and a consensus price target of $55.69.

Schlumberger Stock Down 0.6 %

Shares of SLB traded down $0.24 during mid-day trading on Friday, hitting $41.87. 12,887,648 shares of the company's stock were exchanged, compared to its average volume of 12,188,001. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.65. The firm has a fifty day moving average of $41.29 and a two-hundred day moving average of $41.46. The stock has a market cap of $56.93 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.86 earnings per share. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.72%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is presently 36.66%.

Insider Activity

In related news, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company's stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 over the last 90 days. 0.26% of the stock is currently owned by company 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.