Schlumberger Limited (NYSE:SLB) Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board reduced its holdings in Schlumberger Limited by 37.9%, selling 406,874 shares and now owning 667,560 shares valued at approximately $27.9 million.
• Schlumberger reported earnings of $0.74 per share for the last quarter, beating analysts' expectations, but revenue decreased by 6.5% year-over-year.
• The company is set to pay a quarterly dividend of $0.285 on October 9th, with a current dividend yield of 3.5%.

Public Sector Pension Investment Board cut its position in Schlumberger Limited (NYSE:SLB - Free Report) by 37.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 667,560 shares of the oil and gas company's stock after selling 406,874 shares during the period. Public Sector Pension Investment Board's holdings in Schlumberger were worth $27,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake 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 worth $2,913,312,000 after buying an additional 5,225,828 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Schlumberger by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Deutsche Bank AG boosted its holdings 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 purchasing an additional 3,119,543 shares during the last quarter. Northern Trust Corp boosted its holdings in Schlumberger by 9.4% in the 4th quarter. Northern Trust Corp now owns 13,817,667 shares of the oil and gas company's stock valued at $529,769,000 after purchasing an additional 1,192,399 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Schlumberger by 3.8% in the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock valued at $320,154,000 after purchasing an additional 281,937 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Down 0.9%

Shares of NYSE SLB traded down $0.31 during mid-day trading on Thursday, hitting $33.24. The company had a trading volume of 16,282,212 shares, compared to its average volume of 16,436,465. The company has a market capitalization of $44.92 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 9.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.16. The business's 50-day simple moving average is $34.68 and its 200 day simple moving average is $36.72.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter last year, the business posted $0.85 EPS. The business's quarterly revenue was down 6.5% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. Schlumberger's payout ratio is currently 39.04%.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent analyst reports. Piper Sandler decreased their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Susquehanna decreased their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. JPMorgan Chase & Co. decreased their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Jefferies Financial Group decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $49.28.

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.