Schlumberger Limited (NYSE:SLB) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,894,549 shares of the oil and gas company's stock after selling 441,493 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of Schlumberger worth $72,637,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of 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 valued at $31,961,000 after acquiring an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of 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 valued at $3,223,000 after purchasing an additional 16,350 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Schlumberger by 8.7% in 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 purchasing an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock valued at $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Schlumberger by 26.0% in the third 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 period. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.87 during trading on Friday, hitting $41.73. 13,669,641 shares of the company were exchanged, compared to its average volume of 12,443,092. 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 Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market capitalization of $58.45 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 10.10 and a beta of 1.51. The firm has a 50 day moving average price of $40.20 and a 200 day moving average price of $41.91.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) 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 in the previous year, the firm posted $0.86 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities 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. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.73%. Schlumberger's payout ratio is 36.66%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLB. Stifel Nicolaus lowered their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Atb Cap Markets lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Citigroup raised their price target on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Piper Sandler assumed 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.81.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares of the company's stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 263,782 shares of company stock worth $11,442,229. Insiders own 0.26% of the company's stock.

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.