Schlumberger Limited (NYSE:SLB) Stake Decreased by FIL Ltd

FIL Ltd lowered its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 77.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,845 shares of the oil and gas company's stock after selling 1,329,187 shares during the quarter. FIL Ltd's holdings in Schlumberger were worth $14,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. CX Institutional boosted its stake in Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock valued at $398,000 after acquiring an additional 244 shares in the last quarter. TCW Group Inc. increased its position in Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after buying an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock valued at $2,174,000 after buying an additional 262 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock worth $167,000 after acquiring an additional 283 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Schlumberger by 2.0% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company's stock valued at $566,000 after acquiring an additional 293 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Transactions at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction on 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 transaction, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock worth $13,609,283 over the last 90 days. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SLB shares. Jefferies Financial Group cut their price target 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Barclays cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Piper Sandler started coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price target on the stock. Finally, Wells Fargo & Company raised Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $46.00 to $44.00 in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.15.

Schlumberger Trading Up 3.5 %

Shares of SLB traded up $1.21 during midday trading on Thursday, reaching $35.36. The company had a trading volume of 4,815,276 shares, compared to its average volume of 12,994,507. 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 1-year low of $31.11 and a 1-year high of $51.96. The firm has a 50 day simple moving average of $39.60 and a 200-day simple moving average of $40.88. The stock has a market cap of $48.08 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 3.22%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is currently 36.66%.

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.