Lord Abbett & CO. LLC Sells 26,234 Shares of Schlumberger Limited (NYSE:SLB)

Lord Abbett & CO. LLC reduced its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 796,764 shares of the oil and gas company's stock after selling 26,234 shares during the quarter. Lord Abbett & CO. LLC owned 0.06% of Schlumberger worth $30,548,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SLB. YANKCOM Partnership bought a new stake in Schlumberger in the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the fourth quarter worth $32,000. Golden State Wealth Management LLC bought a new position in Schlumberger during the fourth quarter valued at about $34,000. Hager Investment Management Services LLC bought a new stake in shares of Schlumberger during the 4th quarter worth about $38,000. Finally, Bogart Wealth LLC increased its holdings in shares of Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 844 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Stifel Nicolaus decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday. Jefferies Financial Group dropped their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Finally, Piper Sandler lowered their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday. Five 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 company has an average rating of "Moderate Buy" and a consensus price target of $53.32.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on 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 completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,647 shares of company stock worth $2,390,279. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

NYSE:SLB traded down $0.83 on Wednesday, reaching $33.28. The stock had a trading volume of 21,852,623 shares, compared to its average volume of 13,269,471. The company has a market capitalization of $45.26 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The stock has a fifty day moving average price of $38.28 and a 200-day moving average price of $40.24. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.43%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is presently 38.64%.

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.