Schlumberger Limited (NYSE:SLB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,363,277 shares of the oil and gas company's stock after selling 124,369 shares during the period. Bank of New York Mellon Corp owned 0.69% of Schlumberger worth $391,385,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SLB. Dynamic Technology Lab Private Ltd lifted its position 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 worth $2,737,000 after buying an additional 17,405 shares during the period. Geode Capital Management LLC raised its holdings in shares of Schlumberger by 4.8% during 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 period. Scharf Investments LLC raised its holdings in shares of Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after buying an additional 281,773 shares during the period. Integrated Advisors Network LLC raised its holdings 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 valued at $3,142,000 after buying an additional 66,907 shares during the period. Finally, Miller Financial Services LLC acquired a new stake in Schlumberger during the 4th quarter valued at approximately $375,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Down 0.8%

SLB opened at $35.63 on Monday. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The stock's fifty day moving average is $34.53 and its 200-day moving average is $37.67. The company has a market capitalization of $48.46 billion, a PE ratio of 12.08, a P/E/G ratio of 9.38 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS 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 company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The company's revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business'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 transaction, the director owned 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SLB. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Piper Sandler cut their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus cut their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $50.85.

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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