Man Group plc Acquires 237,992 Shares of Schlumberger Limited (NYSE:SLB)

Man Group plc grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 132.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 417,104 shares of the oil and gas company's stock after acquiring an additional 237,992 shares during the quarter. Man Group plc's holdings in Schlumberger were worth $15,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Schlumberger during the 4th quarter worth $735,398,000. Pacer Advisors Inc. lifted its holdings 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 worth $500,082,000 after acquiring an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Schlumberger by 7.4% during 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 acquiring an additional 5,225,828 shares during the period. Lazard Asset Management LLC boosted its position in 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 buying an additional 3,514,134 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Schlumberger by 12.2% in 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 acquiring an additional 3,119,543 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLB. Stifel Nicolaus dropped their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Piper Sandler decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Barclays cut their price target on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, TD Cowen increased their target price on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Five investment 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.44.

Insider Buying and Selling

In other news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Trading Down 1.6%

Shares of NYSE:SLB traded down $0.57 during midday trading on Tuesday, reaching $34.54. The company's stock had a trading volume of 13,186,326 shares, compared to its average volume of 13,529,271. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $36.64 and a 200 day moving average price of $39.53. The firm has a market cap of $46.98 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the prior year, the business posted $0.75 EPS. The business's revenue was down 2.5% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is 38.64%.

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.