Schlumberger Limited (NYSE:SLB) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 135,162,515 shares of the oil and gas company’s stock after selling 1,272,536 shares during the quarter. Vanguard Group Inc. owned 9.65% of Schlumberger worth $5,182,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC increased its position in shares of Schlumberger by 3.3% during the fourth quarter. LPL Financial LLC now owns 790,906 shares of the oil and gas company’s stock worth $30,323,000 after acquiring an additional 25,547 shares during the last quarter. Samalin Investment Counsel LLC increased its position in shares of Schlumberger by 10.8% during the fourth quarter. Samalin Investment Counsel LLC now owns 14,453 shares of the oil and gas company’s stock worth $554,000 after acquiring an additional 1,406 shares during the last quarter. English Capital Management LLC increased its position in shares of Schlumberger by 11.1% during the fourth quarter. English Capital Management LLC now owns 100,106 shares of the oil and gas company’s stock worth $3,838,000 after acquiring an additional 10,000 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Schlumberger during the fourth quarter worth about $22,075,000. Finally, Sfmg LLC increased its position in shares of Schlumberger by 3.7% during the fourth quarter. Sfmg LLC now owns 91,646 shares of the oil and gas company’s stock worth $3,514,000 after acquiring an additional 3,248 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Down 0.5 %

NYSE SLB opened at $41.09 on Monday. 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. The company has a market capitalization of $55.87 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The firm’s fifty day simple moving average is $41.18 and its 200-day simple moving average is $41.41.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.77%. Schlumberger’s dividend payout ratio is currently 36.66%.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 290,772 shares of company stock worth $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SLB shares. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Stifel Nicolaus dropped their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, BMO Capital Markets lowered their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

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.