Schlumberger Limited (NYSE:SLB) Stake Raised by Employees Retirement System of Texas

Employees Retirement System of Texas boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,591,235 shares of the oil and gas company's stock after acquiring an additional 41,129 shares during the period. Schlumberger accounts for about 2.8% of Employees Retirement System of Texas' portfolio, making the stock its 6th largest holding. Employees Retirement System of Texas owned approximately 0.11% of Schlumberger worth $591,533,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Schlumberger in the 4th quarter valued at approximately $735,398,000. Pacer Advisors Inc. grew its position in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after acquiring an additional 12,938,082 shares in the last quarter. Clearbridge Investments LLC increased its stake in Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after purchasing an additional 2,646,653 shares during the period. Franklin Resources Inc. lifted its holdings in Schlumberger by 12.4% during the 4th quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock worth $590,320,000 after buying an additional 1,700,203 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Schlumberger by 196.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company's stock valued at $88,654,000 after buying an additional 1,533,366 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of NYSE SLB traded up $1.40 during trading hours on Friday, reaching $33.94. The stock had a trading volume of 20,882,247 shares, compared to its average volume of 12,996,115. The firm has a market cap of $46.15 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $54.63. The firm has a 50-day moving average of $39.99 and a 200-day moving average of $41.03. 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 announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (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 analyst estimates of $9.24 billion. During the same period last year, the firm posted $0.86 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.36%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, February 5th. Schlumberger's dividend payout ratio is presently 36.66%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SLB shares. Evercore ISI reiterated an "in-line" rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Jefferies Financial Group cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Finally, Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price target for the company. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.68.

Insider Transactions at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business'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 transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dianne B. Ralston sold 43,161 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares of the company's stock, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,905 shares of company stock worth $13,609,283. Company insiders own 0.26% of the company's stock.

Schlumberger Profile

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.