Prudential Financial Inc. Reduces Stock Holdings in Schlumberger Limited (NYSE:SLB)

Prudential Financial Inc. lowered its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 39.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,140,816 shares of the oil and gas company's stock after selling 733,089 shares during the quarter. Prudential Financial Inc. owned about 0.08% of Schlumberger worth $43,739,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SLB. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger during the fourth quarter worth about $34,000. Hager Investment Management Services LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC boosted its stake in shares of Schlumberger by 468.9% in the fourth 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. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SLB shares. BMO Capital Markets cut their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. TD Cowen lifted their target price on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Evercore ISI restated an "in-line" rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and a consensus price target of $55.69.

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Schlumberger Stock Performance

SLB traded down $0.24 on Friday, reaching $41.87. The company had a trading volume of 12,887,648 shares, compared to its average volume of 12,188,001. The stock has a 50-day moving average price of $41.29 and a 200-day moving average price of $41.46. The stock has a market capitalization of $56.93 billion, a PE ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.65. 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 (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during 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 business's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.72%. Schlumberger's dividend payout ratio (DPR) is 36.66%.

Insider Activity

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company's stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock valued at $12,546,660 in the last ninety days. 0.26% of the stock is currently 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.