Ancora Advisors LLC Acquires 25,468 Shares of Schlumberger Limited (NYSE:SLB)

Ancora Advisors LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 222.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,939 shares of the oil and gas company's stock after purchasing an additional 25,468 shares during the quarter. Ancora Advisors LLC's holdings in Schlumberger were worth $1,416,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Schlumberger in the 4th quarter valued at approximately $735,398,000. Pacer Advisors Inc. boosted its stake in 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 in the last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $2,913,312,000 after buying an additional 5,225,828 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after acquiring an additional 2,646,653 shares during the period. Finally, Franklin Resources Inc. increased its stake in Schlumberger by 12.4% in the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock valued at $590,320,000 after acquiring an additional 1,700,203 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. TD Cowen raised their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Piper Sandler decreased their price target 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. Citigroup boosted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $53.32.

Schlumberger Stock Down 0.3 %

SLB traded down $0.08 during trading on Wednesday, reaching $33.50. The company had a trading volume of 12,123,281 shares, compared to its average volume of 13,379,293. The company has a market cap of $45.56 billion, a P/E ratio of 10.77, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. 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 business's fifty day moving average price is $37.38 and its 200 day moving average price is $39.87.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.40%. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Activity

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the business'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 directly owns 53,584 shares of the company's stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, 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. 0.26% of the stock is owned by corporate insiders.

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.