Schlumberger Limited (NYSE:SLB) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,396,967 shares of the oil and gas company's stock after buying an additional 1,700,203 shares during the period. Franklin Resources Inc. owned approximately 1.10% of Schlumberger worth $590,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLB. Townsquare Capital LLC lifted its holdings in shares of Schlumberger by 25.2% in the 3rd quarter. Townsquare Capital LLC now owns 37,094 shares of the oil and gas company's stock valued at $1,556,000 after buying an additional 7,464 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Schlumberger by 92.3% in the third quarter. Rockefeller Capital Management L.P. now owns 414,618 shares of the oil and gas company's stock valued at $17,406,000 after acquiring an additional 199,047 shares during the period. Captrust Financial Advisors boosted its position in Schlumberger by 20.3% in the 3rd quarter. Captrust Financial Advisors now owns 136,291 shares of the oil and gas company's stock worth $5,717,000 after purchasing an additional 23,005 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Schlumberger during the 3rd quarter worth approximately $1,619,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Schlumberger during the 3rd quarter valued at approximately $645,000. Institutional investors and hedge funds own 81.99% of the company's stock.

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Schlumberger Trading Up 0.1 %

NYSE:SLB traded up $0.03 on Wednesday, reaching $42.23. The company's stock had a trading volume of 16,496,123 shares, compared to its average volume of 12,220,085. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.65. The stock has a 50 day moving average price of $41.23 and a 200 day moving average price of $41.50. The firm has a market cap of $57.43 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. 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 (NYSE:SLB - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the previous year, the firm earned $0.86 EPS. Schlumberger's revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.

Analyst Upgrades and Downgrades

Several analysts recently commented on SLB shares. Jefferies Financial Group dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They set a "neutral" rating and a $47.00 target price on the stock. Citigroup upped their price target on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Atb Cap Markets downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Six equities research 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, the company presently has an average rating of "Moderate Buy" and an average price target of $55.69.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares of the company's stock, valued at $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is currently owned by company insiders.

Schlumberger Company 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.