Legal & General Group Plc Sells 3,558,592 Shares of Schlumberger Limited (NYSE:SLB)

Legal & General Group Plc decreased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,146,640 shares of the oil and gas company's stock after selling 3,558,592 shares during the quarter. Legal & General Group Plc owned 0.65% of Schlumberger worth $350,682,000 as of its most recent SEC filing.

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

Insider Activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares of the company's stock, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 315,905 shares of company stock worth $13,609,283 in the last ninety days. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. 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 target for the company. JPMorgan Chase & Co. increased their target price on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Barclays lowered their price target on Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $54.68.

Schlumberger Stock Down 0.0 %

Shares of NYSE SLB traded down $0.01 during mid-day trading on Monday, reaching $33.95. 4,283,301 shares of the company traded hands, compared to its average volume of 12,963,876. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company's fifty day moving average is $39.99 and its two-hundred day moving average is $41.03. The stock has a market cap of $46.17 billion, a PE ratio of 10.92, 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 (EPS) for the quarter, beating 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%. The firm's revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. On average, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

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

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.