Robeco Institutional Asset Management B.V. Trims Stock Position in Schlumberger Limited (NYSE:SLB)

Robeco Institutional Asset Management B.V. cut its position in Schlumberger Limited (NYSE:SLB - Free Report) by 78.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 509,945 shares of the oil and gas company's stock after selling 1,854,998 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Schlumberger were worth $21,392,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Nvwm LLC grew its holdings in Schlumberger by 4.6% during the third quarter. Nvwm LLC now owns 34,084 shares of the oil and gas company's stock worth $1,430,000 after acquiring an additional 1,512 shares during the period. Baxter Bros Inc. purchased a new position in shares of Schlumberger in the 3rd quarter valued at about $800,000. Janney Montgomery Scott LLC raised its holdings in Schlumberger by 24.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 261,421 shares of the oil and gas company's stock worth $10,967,000 after purchasing an additional 52,134 shares during the period. Private Wealth Partners LLC boosted its position in Schlumberger by 19.2% during the third quarter. Private Wealth Partners LLC now owns 6,205 shares of the oil and gas company's stock worth $260,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Lmcg Investments LLC grew its holdings in Schlumberger by 68.7% in the third quarter. Lmcg Investments LLC now owns 221,977 shares of the oil and gas company's stock valued at $9,312,000 after purchasing an additional 90,374 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. TD Cowen dropped their price target on Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Wells Fargo & Company decreased their price objective on Schlumberger from $53.00 to $49.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 25th. Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. Finally, Dbs Bank started coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a "buy" rating and a $64.50 price objective for the company. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company's stock, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company's stock.

Schlumberger Trading Down 1.2 %

SLB traded down $0.53 during mid-day trading on Thursday, hitting $43.24. 13,507,180 shares of the stock were exchanged, compared to its average volume of 11,261,177. The company has a market cap of $61.06 billion, a PE ratio of 13.92, a PEG ratio of 1.42 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average is $42.25 and its two-hundred day moving average is $44.96. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. Equities analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.54%. Schlumberger's dividend payout ratio (DPR) is currently 35.37%.

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.