Schlumberger Limited (NYSE:SLB) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 26.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,194 shares of the oil and gas company's stock after selling 103,298 shares during the quarter. Truist Financial Corp's holdings in Schlumberger were worth $14,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company's stock worth $7,609,804,000 after buying an additional 1,412,821 shares in the last quarter. FMR LLC raised its holdings in shares of Schlumberger by 1.1% during the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company's stock valued at $1,584,099,000 after buying an additional 282,709 shares in the last quarter. Morgan Stanley boosted its position in Schlumberger by 1.9% during the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company's stock valued at $920,561,000 after buying an additional 292,817 shares during the period. Invesco Ltd. increased its position in shares of Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company's stock valued at $488,020,000 after acquiring an additional 1,954,620 shares during the period. Finally, Sanders Capital LLC grew its position in shares of Schlumberger by 34.9% in the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company's stock worth $469,693,000 after buying an additional 2,085,506 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLB. Stifel Nicolaus reaffirmed a "buy" rating and issued a $64.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America lowered their price target on Schlumberger from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Morgan Stanley reissued an "overweight" rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. TD Cowen dropped their target price on shares of Schlumberger from $64.00 to $63.00 and set a "buy" rating on the stock in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Schlumberger in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $68.72.

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold 76,295 shares of company stock valued at $3,707,595 in the last ninety days. Corporate insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

Shares of NYSE SLB traded down $0.32 during trading on Wednesday, hitting $47.16. The company had a trading volume of 11,217,864 shares, compared to its average volume of 11,197,176. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The firm has a market capitalization of $67.41 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The stock has a 50 day simple moving average of $51.69 and a 200 day simple moving average of $51.90.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. Schlumberger's quarterly revenue was up 12.6% compared to the same quarter last year. As a group, analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This is an increase from Schlumberger's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.33%. Schlumberger's payout ratio is presently 36.54%.

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.