Schlumberger Limited (NYSE:SLB) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 8.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 760,040 shares of the oil and gas company's stock after selling 65,704 shares during the quarter. Fifth Third Bancorp owned 0.06% of Schlumberger worth $31,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Norges Bank purchased a new position in Schlumberger during the 4th quarter valued at about $735,398,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 7.4% in the fourth 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 period. Lazard Asset Management LLC grew its holdings in shares of Schlumberger by 3,112.1% in the fourth 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 in the last quarter. Deutsche Bank AG increased its stake 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 worth $1,101,804,000 after buying an additional 3,119,543 shares during the period. Finally, Clearbridge Investments LLC increased its stake 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 buying an additional 2,646,653 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

NYSE:SLB traded up $0.68 during mid-day trading on Friday, reaching $36.31. 15,378,704 shares of the stock were exchanged, compared to its average volume of 13,541,557. The stock has a market capitalization of $49.38 billion, a P/E ratio of 11.67, a P/E/G ratio of 10.10 and a beta of 1.01. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a 50 day simple moving average of $34.27 and a 200-day simple moving average of $38.43. 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 (NYSE:SLB - Get Free Report) last announced 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). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter last year, the business posted $0.75 earnings per share. The business's revenue was down 2.5% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.14%. Schlumberger's payout ratio is 38.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SLB shares. Piper Sandler dropped 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. Barclays decreased their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Wells Fargo & Company cut their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, June 5th. Jefferies Financial Group reduced their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Finally, Stifel Nicolaus lowered their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Four equities 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.38.

Insider Transactions at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

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.