Schlumberger Limited (NYSE:SLB) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lowered its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 228,527 shares of the oil and gas company's stock after selling 39,481 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Schlumberger were worth $8,761,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SLB. Geode Capital Management LLC raised its stake in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after buying an additional 1,377,134 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Schlumberger by 1.2% during the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock worth $1,067,254,000 after acquiring an additional 343,261 shares in the last quarter. Norges Bank purchased a new stake in shares of Schlumberger during the 4th quarter valued at about $735,398,000. Boston Partners lifted its position in Schlumberger by 9.9% in the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company's stock worth $597,356,000 after buying an additional 1,405,186 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Schlumberger by 12.4% during the 4th quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock worth $590,320,000 after acquiring an additional 1,700,203 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Up 4.3 %

NYSE:SLB traded up $1.40 during trading hours on Friday, hitting $33.94. The company's stock had a trading volume of 20,882,247 shares, compared to its average volume of 12,996,115. The stock has a fifty day moving average of $39.99 and a 200-day moving average of $41.03. The stock has a market capitalization of $46.15 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $54.63. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were given a dividend of $0.285 per share. This is an increase from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 3.36%. Schlumberger's dividend payout ratio (DPR) is presently 36.66%.

Insider Activity

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 of the company's stock, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock worth $13,609,283 over the last three months. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SLB has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Schlumberger from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price target on the stock. Jefferies Financial Group reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. 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 research report on Wednesday, January 15th. 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.68.

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.