Scharf Investments LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 20.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,653,895 shares of the oil and gas company's stock after acquiring an additional 281,773 shares during the period. Schlumberger accounts for about 2.1% of Scharf Investments LLC's holdings, making the stock its 21st largest position. Scharf Investments LLC owned about 0.12% of Schlumberger worth $69,133,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd grew its holdings in Schlumberger by 32.2% during 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 purchasing an additional 17,405 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 buying an additional 1,377,134 shares during the last quarter. Integrated Advisors Network LLC grew its stake in Schlumberger by 810.4% in the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after buying an additional 66,907 shares during the last quarter. Miller Financial Services LLC bought a new position in Schlumberger in the 4th quarter worth $375,000. Finally, Ilmarinen Mutual Pension Insurance Co lifted its position in Schlumberger by 40.4% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 220,685 shares of the oil and gas company's stock worth $8,461,000 after acquiring an additional 63,500 shares during the last quarter. 81.99% of the stock is owned by institutional investors.
Insider Buying and Selling at Schlumberger
In other news, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm's 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 now owns 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.
Schlumberger Price Performance
Shares of NYSE:SLB traded down $2.08 during midday trading on Monday, reaching $33.76. The company's stock had a trading volume of 25,794,998 shares, compared to its average volume of 16,409,531. The business's fifty day simple moving average is $34.54 and its 200-day simple moving average is $38.06. 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 Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a market capitalization of $45.92 billion, a P/E ratio of 11.44, a P/E/G ratio of 9.29 and a beta of 1.02.
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 for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The company's revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.
Schlumberger Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.38%. Schlumberger's payout ratio is 38.64%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on SLB shares. Susquehanna lowered their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group decreased their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Piper Sandler dropped 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 objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Barclays cut 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 research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $52.38.
Read Our Latest Research Report on SLB
About Schlumberger
(
Free Report)
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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