Schlumberger Limited (NYSE:SLB) Position Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 584,616 shares of the oil and gas company's stock after buying an additional 64,018 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Schlumberger were worth $22,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in Schlumberger during the third quarter worth $29,000. YANKCOM Partnership bought a new position in Schlumberger during the fourth quarter worth $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the fourth quarter worth $32,000. Ashton Thomas Securities LLC bought a new position in Schlumberger during the third quarter worth $37,000. Finally, Golden State Wealth Management LLC bought a new position in Schlumberger during the fourth quarter worth $34,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Ratings Changes

SLB has been the topic of several research analyst reports. Evercore ISI restated an "in-line" rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 target price on the stock. BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Stifel Nicolaus cut their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.81.

Insider Buying and Selling

In related news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company's stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock valued at $11,442,229 over the last three months. Company insiders own 0.26% of the company's stock.

Schlumberger Price Performance

NYSE:SLB traded down $0.87 during mid-day trading on Friday, reaching $41.73. 13,669,641 shares of the stock were exchanged, compared to its average volume of 14,156,785. The business has a fifty day moving average price of $40.20 and a 200 day moving average price of $41.91. The firm has a market capitalization of $58.45 billion, a PE ratio of 13.42, a PEG ratio of 10.00 and a beta of 1.51. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. 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 released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger's revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. 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 yield of 2.73%. The ex-dividend date is Wednesday, February 5th. Schlumberger's payout ratio is presently 36.66%.

Schlumberger 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.