DAVENPORT & Co LLC decreased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 24.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,864,363 shares of the oil and gas company's stock after selling 590,017 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.13% of Schlumberger worth $71,209,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Schlumberger by 25.9% in the 3rd 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 purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Schlumberger by 27.0% in 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. Victory Capital Management Inc. raised its holdings in shares of Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock valued at $34,305,000 after purchasing an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company's stock valued at $12,880,000 after purchasing an additional 63,413 shares in the last quarter. Institutional investors own 81.99% of the company's stock.
Schlumberger Stock Performance
Shares of SLB stock traded down $0.81 during trading hours on Friday, hitting $40.21. The company's stock had a trading volume of 13,101,326 shares, compared to its average volume of 14,117,565. The company has a 50 day moving average of $40.49 and a 200 day moving average of $42.54. The stock has a market cap of $56.32 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52. 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 Limited has a 12-month low of $36.52 and a 12-month high of $55.69.
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 (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.24 billion. During the same period in the previous year, the business posted $0.86 EPS. The business's revenue was up 3.3% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a boost from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger's payout ratio is currently 35.37%.
Analyst Upgrades and Downgrades
SLB has been the topic of a number of analyst reports. Piper Sandler initiated 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. Sanford C. Bernstein raised shares of Schlumberger to a "strong-buy" rating in a research report on Tuesday, November 12th. TD Cowen lifted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Finally, BMO Capital Markets cut their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $55.81.
Read Our Latest Analysis on SLB
Insider Activity at Schlumberger
In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the company's stock in a transaction 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 transaction, the vice president now owns 11,240 shares of the company's stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 in the last three months. Company insiders own 0.26% of the company's stock.
Schlumberger Company Profile
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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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