Calamos Advisors LLC Trims Stake in Schlumberger Limited (NYSE:SLB)

Calamos Advisors LLC lowered its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 41.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 327,046 shares of the oil and gas company's stock after selling 231,460 shares during the period. Calamos Advisors LLC's holdings in Schlumberger were worth $13,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SLB. Norges Bank purchased a new position in Schlumberger during the fourth quarter valued at approximately $735,398,000. Price T Rowe Associates Inc. MD boosted 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 purchasing an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC raised 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 buying an additional 3,514,134 shares during the last quarter. Deutsche Bank AG raised 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 buying an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC raised 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 buying an additional 2,646,653 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's 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 sale, the director owned 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Piper Sandler decreased their price target 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. Morgan Stanley cut their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Finally, Wells Fargo & Company lowered their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, June 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and an average target price of $50.85.

Schlumberger Price Performance

SLB traded up $1.58 during trading on Tuesday, reaching $36.53. 13,518,002 shares of the company traded hands, compared to its average volume of 13,815,286. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The firm has a fifty day simple moving average of $34.60 and a 200 day simple moving average of $37.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The company has a market cap of $49.69 billion, a P/E ratio of 12.38, a PEG ratio of 9.20 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. Schlumberger's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. On average, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend 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.