CoreCommodity Management LLC Has $2.02 Million Position in Schlumberger Limited (NYSE:SLB)

CoreCommodity Management LLC cut its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 14.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 52,737 shares of the oil and gas company's stock after selling 8,771 shares during the period. CoreCommodity Management LLC's holdings in Schlumberger were worth $2,022,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Schlumberger during the 4th quarter valued at $735,398,000. Pacer Advisors Inc. grew its stake in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after buying an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 7.4% during 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 period. Clearbridge Investments LLC boosted its position in 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 purchasing an additional 2,646,653 shares during the period. Finally, Franklin Resources Inc. boosted its position in Schlumberger by 12.4% during the 4th quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock worth $590,320,000 after purchasing an additional 1,700,203 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLB shares. Jefferies Financial Group decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. TD Cowen upped 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. Citigroup upped their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Finally, Piper Sandler reduced their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.32.

Insiders Place Their Bets

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company's stock, valued at $2,192,657.28. This trade represents a 33.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Shares of Schlumberger stock traded up $1.28 during trading on Monday, hitting $35.83. 5,289,329 shares of the company's stock traded hands, compared to its average volume of 13,398,726. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a market cap of $48.74 billion, a PE ratio of 11.52, a PEG ratio of 10.10 and a beta of 1.06. 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 firm's fifty day moving average price is $37.18 and its 200 day moving average price is $39.73.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The business 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%. The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.18%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

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.