Employees Retirement System of Texas Buys 41,129 Shares of Schlumberger Limited (NYSE:SLB)

Employees Retirement System of Texas boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,591,235 shares of the oil and gas company's stock after acquiring an additional 41,129 shares during the quarter. Employees Retirement System of Texas owned 0.12% of Schlumberger worth $61,008,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC grew its position in Schlumberger by 41.8% during the 4th quarter. Avior Wealth Management LLC now owns 11,862 shares of the oil and gas company's stock worth $498,000 after acquiring an additional 3,498 shares during the last quarter. Brighton Jones LLC raised its position in Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in Schlumberger in the fourth quarter worth $530,000. CX Institutional grew its holdings in shares of Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock worth $398,000 after purchasing an additional 244 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Schlumberger by 9.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 51,792 shares of the oil and gas company's stock worth $1,986,000 after purchasing an additional 4,603 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Aparna Raman sold 25,133 shares of the business's 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 transaction, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Schlumberger Trading Down 2.0%

Shares of Schlumberger stock traded down $0.66 during trading on Friday, reaching $33.02. 20,666,010 shares of the company were exchanged, compared to its average volume of 13,615,090. The business has a 50-day moving average price of $35.29 and a 200-day moving average price of $39.01. The firm has a market capitalization of $44.91 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 10.10 and a beta of 1.06. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last issued 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 company 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 quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.45%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group cut their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Susquehanna dropped their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, Piper Sandler dropped their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.44.

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.