Schlumberger Limited (NYSE:SLB) Shares Sold by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 24.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,401 shares of the oil and gas company’s stock after selling 5,001 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Schlumberger were worth $590,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SLB. Norges Bank acquired a new position in shares of Schlumberger in the 4th quarter worth approximately $735,398,000. Pacer Advisors Inc. grew its stake in shares of Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock worth $139,059,000 after purchasing an additional 3,514,134 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock worth $1,101,804,000 after purchasing an additional 3,119,543 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Susquehanna decreased their target price on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a report on Monday, April 28th. Jefferies Financial Group decreased their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Finally, Citigroup raised their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.44.

Schlumberger Stock Performance

SLB stock opened at $35.74 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market cap of $48.61 billion, a P/E ratio of 11.49, a P/E/G ratio of 10.10 and a beta of 1.06. The firm has a 50 day simple moving average of $36.74 and a 200 day simple moving average of $39.57. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. Research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is presently 38.64%.

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.