Penserra Capital Management LLC Sells 8,473 Shares of Schlumberger Limited (NYSE:SLB)

Penserra Capital Management LLC lowered its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 44.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,653 shares of the oil and gas company's stock after selling 8,473 shares during the period. Penserra Capital Management LLC's holdings in Schlumberger were worth $445,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Schlumberger during the 4th quarter worth approximately $735,398,000. Price T Rowe Associates Inc. MD grew its position in 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 lifted its position in Schlumberger by 3,112.1% during 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. Deutsche Bank AG raised its position in Schlumberger by 12.2% in the fourth 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 purchasing an additional 3,119,543 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after purchasing an additional 2,646,653 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. 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 research report on Monday, June 30th. Susquehanna cut their target price on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. UBS Group increased their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Piper Sandler dropped their target price 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. Finally, Jefferies Financial Group cut their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Three investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.79.

Schlumberger Price Performance

Shares of NYSE SLB traded up $0.70 during mid-day trading on Friday, reaching $37.35. 11,333,547 shares of the company traded hands, compared to its average volume of 14,613,026. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The firm has a market cap of $50.80 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 9.69 and a beta of 1.01. The stock has a fifty day simple moving average of $34.72 and a 200-day simple moving average of $37.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93.

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 (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the prior year, the firm earned $0.75 EPS. The business's revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on 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 transaction, the director owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

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.