Great Lakes Retirement Inc. Has $9.88 Million Position in Schlumberger Limited (NYSE:SLB)

Great Lakes Retirement Inc. increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 60.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 257,784 shares of the oil and gas company's stock after purchasing an additional 97,375 shares during the period. Schlumberger makes up approximately 1.3% of Great Lakes Retirement Inc.'s investment portfolio, making the stock its 21st largest holding. Great Lakes Retirement Inc.'s holdings in Schlumberger were worth $9,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after buying an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock worth $470,425,000 after buying an additional 1,916,851 shares during the period. Scharf Investments LLC acquired a new position in shares of Schlumberger during the fourth quarter worth about $52,607,000. Weiss Asset Management LP acquired a new position in shares of Schlumberger during the third quarter worth about $37,322,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Schlumberger during the fourth quarter worth about $25,481,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the subject of several recent research reports. Barclays reduced their price objective on Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, December 18th. 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 for the company. Griffin Securities cut Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus reduced their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.81.

Insider Activity

In other news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger 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 transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,782 shares of company stock worth $11,442,229. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Schlumberger stock traded down $0.34 during mid-day trading on Friday, reaching $41.75. 12,223,889 shares of the company were exchanged, compared to its average volume of 15,414,117. The company has a fifty day simple moving average of $40.08 and a 200-day simple moving average of $42.05. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a market cap of $58.48 billion, a PE ratio of 13.42, a PEG ratio of 9.49 and a beta of 1.51.

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 (EPS) for the quarter, beating 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 company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the company posted $0.86 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.73%. Schlumberger's dividend payout ratio (DPR) is presently 36.66%.

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.