New York State Teachers Retirement System Decreases Stake in Schlumberger Limited (NYSE:SLB)

New York State Teachers Retirement System lessened its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,126,252 shares of the oil and gas company's stock after selling 55,742 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Schlumberger worth $43,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its stake in Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after buying an additional 16,350 shares in the last quarter. Victory Capital Management Inc. grew its position in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock valued at $34,305,000 after acquiring an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock worth $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company's stock worth $12,880,000 after acquiring an additional 63,413 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of Schlumberger to a "strong-buy" rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price target on the stock. Stifel Nicolaus decreased their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Finally, Evercore ISI restated an "in-line" rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.81.

Schlumberger Stock Up 2.1 %

Shares of SLB stock traded up $0.88 during midday trading on Tuesday, reaching $42.63. 14,147,505 shares of the stock were exchanged, compared to its average volume of 14,180,214. The firm has a market cap of $59.71 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company's 50 day moving average is $40.09 and its two-hundred day moving average is $41.93. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69.

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 for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared 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 is a boost from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger's dividend payout ratio (DPR) is 36.66%.

Insider Buying and Selling

In other news, insider Bejar Carmen Rando sold 5,524 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock valued at $11,442,229 over the last quarter. Corporate insiders own 0.26% of the company's stock.

Schlumberger 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.