UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,187,843 shares of the oil and gas company's stock after selling 26,101 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.80% of Schlumberger worth $428,942,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SLB. CX Institutional boosted its position in Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock valued at $398,000 after buying an additional 244 shares during the period. TCW Group Inc. boosted its position in Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after buying an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock valued at $2,174,000 after buying an additional 262 shares during the period. Vident Advisory LLC boosted its position in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after buying an additional 273 shares during the period. Finally, Cromwell Holdings LLC boosted its position in Schlumberger by 7.0% during the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock valued at $167,000 after buying an additional 283 shares during the period. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gavin Rennick sold 26,990 shares of the company's 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 completion of the sale, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on SLB. Piper Sandler cut their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Barclays lowered their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, Susquehanna lowered their price objective on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and an average target price of $52.44.

Schlumberger Trading Down 0.3%

SLB stock traded down $0.09 during trading on Friday, reaching $33.66. The company had a trading volume of 10,464,897 shares, compared to its average volume of 13,557,027. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a market cap of $45.79 billion, a P/E ratio of 10.82, a PEG ratio of 10.10 and a beta of 1.06. The business has a 50 day moving average of $36.08 and a 200 day moving average of $39.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

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 for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 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.