Lord Abbett & CO. LLC Sells 26,234 Shares of Schlumberger Limited (NYSE:SLB)

Lord Abbett & CO. LLC reduced its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 796,764 shares of the oil and gas company's stock after selling 26,234 shares during the quarter. Lord Abbett & CO. LLC owned about 0.06% of Schlumberger worth $30,548,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SLB. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at approximately $34,000. Hager Investment Management Services LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at approximately $38,000. Finally, Bogart Wealth LLC lifted its stake in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 844 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction on 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 completion of the sale, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,647 shares of company stock worth $4,876,679 over the last quarter. Insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLB. TD Cowen raised their target price on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Piper Sandler lowered their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday. Jefferies Financial Group lowered their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $46.00 to $44.00 in a research note 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.32.

Schlumberger Stock Performance

NYSE SLB remained flat at $34.10 on Tuesday. 14,629,626 shares of the company's stock were exchanged, compared to its average volume of 13,233,811. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The firm has a market cap of $46.37 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 10.10 and a beta of 1.11. The firm's 50 day moving average price is $38.28 and its 200-day moving average price is $40.24. 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 (NYSE:SLB - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the previous year, the business posted $0.75 EPS. Schlumberger's revenue was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

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.