Schlumberger Limited (NYSE:SLB) Shares Sold by Korea Investment CORP

Korea Investment CORP decreased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 11.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,477,498 shares of the oil and gas company's stock after selling 197,767 shares during the quarter. Korea Investment CORP owned approximately 0.11% of Schlumberger worth $56,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock valued at $3,808,476,000 after purchasing an additional 528,279 shares during the period. Geode Capital Management LLC increased its holdings in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock worth $1,195,290,000 after buying an additional 239,966 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Schlumberger by 1.2% in the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock valued at $1,067,254,000 after acquiring an additional 343,261 shares during the last quarter. Boston Partners grew its position in Schlumberger by 9.9% during the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company's stock valued at $597,356,000 after acquiring an additional 1,405,186 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of 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 worth $500,082,000 after purchasing an additional 12,938,082 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

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Insider Transactions at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SLB has been the topic of several research reports. Piper Sandler assumed 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. Jefferies Financial Group reduced their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday. BMO Capital Markets lowered their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Griffin Securities cut Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Finally, Barclays lowered their target price on Schlumberger from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Monday. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $55.69.

Schlumberger Stock Performance

Shares of NYSE SLB traded up $0.07 during mid-day trading on Monday, hitting $41.95. The company had a trading volume of 6,155,494 shares, compared to its average volume of 12,165,008. The stock has a market cap of $57.04 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 10.10 and a beta of 1.47. The firm's 50 day simple moving average is $41.29 and its two-hundred day simple moving average is $41.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.65.

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

Schlumberger Increases Dividend

The firm also recently declared 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. This represents a $1.14 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is 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.