Toronto Dominion Bank increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 808,535 shares of the oil and gas company's stock after buying an additional 92,108 shares during the period. Toronto Dominion Bank owned 0.06% of Schlumberger worth $30,999,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in SLB. Norges Bank purchased a new stake in Schlumberger during the fourth quarter worth $735,398,000. Pacer Advisors Inc. grew its position in shares of Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after purchasing an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 7.4% in the fourth 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 purchasing an additional 5,225,828 shares during the period. Lazard Asset Management LLC grew its position in shares of Schlumberger by 3,112.1% in the fourth 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 purchasing an additional 3,514,134 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Schlumberger by 12.2% in 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 period. 81.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on SLB. Jefferies Financial Group dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Barclays dropped their target price 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. Susquehanna decreased their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Piper Sandler decreased their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.44.
Check Out Our Latest Stock Report on Schlumberger
Insider Buying and Selling
In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.
Schlumberger Stock Performance
SLB traded down $0.09 during trading on Friday, hitting $33.66. The stock had a trading volume of 10,464,897 shares, compared to its average volume of 13,584,168. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a market capitalization of $45.79 billion, a P/E ratio of 10.82, a PEG ratio of 10.10 and a beta of 1.06. The company's 50-day moving average price is $36.08 and its 200 day moving average price is $39.33. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94.
Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The business's quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.
Schlumberger Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors 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 annualized dividend and a dividend yield of 3.39%. Schlumberger's dividend payout ratio is presently 38.64%.
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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