Schlumberger Limited (NYSE:SLB) Position Boosted by NEOS Investment Management LLC

NEOS Investment Management LLC increased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,694 shares of the oil and gas company's stock after purchasing an additional 21,054 shares during the period. NEOS Investment Management LLC's holdings in Schlumberger were worth $3,362,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its stake in Schlumberger by 9,041.9% during the third quarter. Penserra Capital Management LLC now owns 10,696 shares of the oil and gas company's stock worth $448,000 after purchasing an additional 10,579 shares during the period. Private Trust Co. NA increased its holdings in shares of Schlumberger by 23.8% during the 3rd quarter. Private Trust Co. NA now owns 2,281 shares of the oil and gas company's stock worth $96,000 after buying an additional 439 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Schlumberger by 2.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,215,726 shares of the oil and gas company's stock worth $51,000,000 after buying an additional 24,377 shares during the period. Townsquare Capital LLC lifted its stake 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 purchasing an additional 7,464 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Schlumberger by 5.9% during the third quarter. Glenmede Trust Co. NA now owns 109,415 shares of the oil and gas company's stock worth $4,590,000 after buying an additional 6,060 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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Schlumberger Stock Performance

NYSE:SLB traded up $0.43 during trading hours on Tuesday, reaching $42.23. 8,054,916 shares of the stock were exchanged, compared to its average volume of 12,179,602. The stock has a market capitalization of $57.42 billion, a P/E ratio of 13.57, a P/E/G ratio of 10.10 and a beta of 1.47. The firm has a 50 day simple moving average of $41.25 and a 200-day simple moving average of $41.48. 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 52 week low of $36.52 and a 52 week high of $55.65.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 dividend yield of 2.70%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. TD Cowen boosted their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 target price for the company. Evercore ISI reiterated an "in-line" rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, 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. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.69.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on 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 of the company's stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction 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 approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 over the last quarter. 0.26% of the stock is 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.