Arizona State Retirement System Has $17.32 Million Position in Schlumberger Limited (NYSE:SLB)

Arizona State Retirement System increased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 414,429 shares of the oil and gas company's stock after acquiring an additional 6,940 shares during the period. Arizona State Retirement System's holdings in Schlumberger were worth $17,323,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SLB. Norges Bank bought a new position in Schlumberger during the 4th quarter valued at about $735,398,000. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Schlumberger by 3,112.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the last quarter. Deutsche Bank AG lifted its holdings in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings 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 valued at $101,708,000 after purchasing an additional 2,646,653 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Piper Sandler dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Susquehanna dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. Morgan Stanley dropped their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.79.

Schlumberger Stock Up 1.9%

Shares of Schlumberger stock traded up $0.70 on Friday, hitting $37.35. The company had a trading volume of 11,333,547 shares, compared to its average volume of 13,896,116. The firm has a market capitalization of $50.80 billion, a P/E ratio of 12.66, a P/E/G ratio of 9.87 and a beta of 1.01. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The stock has a 50-day moving average of $34.77 and a 200-day moving average of $37.64.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.05%. The ex-dividend date was 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.