Schlumberger Limited (NYSE:SLB) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lowered its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,100 shares of the oil and gas company's stock after selling 23,750 shares during the quarter. Skylands Capital LLC's holdings in Schlumberger were worth $2,220,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SLB. Norges Bank purchased a new stake in Schlumberger in the 4th quarter worth $735,398,000. Price T Rowe Associates Inc. MD raised its position in shares of Schlumberger by 7.4% during the 4th 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 buying an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Schlumberger by 3,112.1% during the 4th 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 shares of Schlumberger by 12.2% during 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 buying an additional 3,119,543 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after buying an additional 2,646,653 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SLB. Stifel Nicolaus decreased their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Morgan Stanley decreased their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Wells Fargo & Company decreased their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Piper Sandler decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Barclays reduced their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.03.

Schlumberger Trading Up 0.5%

Shares of NYSE:SLB traded up $0.18 during trading on Friday, reaching $34.01. 17,164,745 shares of the company were exchanged, compared to its average volume of 13,701,047. The firm has a market capitalization of $46.26 billion, a PE ratio of 11.53, a P/E/G ratio of 8.86 and a beta of 1.01. The business's fifty day simple moving average is $34.46 and its 200-day simple moving average is $37.82. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. 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 issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion for 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 was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.35%. Schlumberger's dividend payout ratio is presently 38.64%.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director now directly owns 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 sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate 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.