Flossbach Von Storch SE Lowers Stock Holdings in Schlumberger Limited (NYSE:SLB)

Flossbach Von Storch SE reduced its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 65.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,477 shares of the oil and gas company's stock after selling 204,258 shares during the period. Flossbach Von Storch SE's holdings in Schlumberger were worth $4,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of 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 period. Geode Capital Management LLC boosted its position in Schlumberger by 4.8% during the fourth 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 during the last quarter. Deutsche Bank AG boosted its position in Schlumberger by 12.2% during 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 last quarter. First Eagle Investment Management LLC boosted its position in Schlumberger by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock valued at $1,067,254,000 after purchasing an additional 343,261 shares during the last quarter. Finally, Norges Bank acquired a new position in Schlumberger during the fourth quarter valued at approximately $735,398,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLB. Susquehanna reduced their price target on Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Barclays dropped their price objective on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Piper Sandler dropped their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. UBS Group upped their price objective on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley lowered 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. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.85.

Insider Transactions at Schlumberger

In other Schlumberger news, 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 sale, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Down 0.8%

NYSE:SLB traded down $0.29 on Wednesday, hitting $36.25. The stock had a trading volume of 11,429,859 shares, compared to its average volume of 13,805,783. The business's fifty day moving average is $34.60 and its 200 day moving average is $37.65. The company has a market cap of $49.31 billion, a PE ratio of 12.29, a P/E/G ratio of 9.20 and a beta of 1.01. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. On average, equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced 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. This represents a $1.14 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio is currently 38.64%.

About Schlumberger

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.