New York State Teachers Retirement System Sells 48,457 Shares of Schlumberger Limited (NYSE:SLB)

New York State Teachers Retirement System reduced its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,077,795 shares of the oil and gas company's stock after selling 48,457 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Schlumberger worth $45,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SLB. Dynamic Technology Lab Private Ltd grew its position in Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after acquiring an additional 17,405 shares during the period. Geode Capital Management LLC boosted its stake in shares of Schlumberger by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after purchasing an additional 1,377,134 shares in the last quarter. Scharf Investments LLC grew its holdings in shares of Schlumberger by 20.5% in the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after purchasing an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC increased its position in shares of Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Finally, Miller Financial Services LLC bought a new position in Schlumberger during the 4th quarter valued at about $375,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. Susquehanna decreased their price objective on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Piper Sandler decreased their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Stifel Nicolaus dropped their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, Barclays lowered their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $51.68.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Schlumberger stock opened at $33.83 on Tuesday. The company has a market cap of $46.01 billion, a PE ratio of 11.47, a PEG ratio of 8.86 and a beta of 1.02. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company's 50-day moving average is $34.45 and its two-hundred day moving average is $37.75.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data 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). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company's quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.37%. Schlumberger's dividend payout ratio is currently 38.64%.

Schlumberger 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.

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