Schlumberger Limited (NYSE:SLB) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 6.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,957 shares of the oil and gas company's stock after selling 11,616 shares during the quarter. Pinebridge Investments L.P.'s holdings in Schlumberger were worth $6,401,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SLB. Bard Financial Services Inc. acquired a new stake in shares of Schlumberger in the 3rd quarter worth $229,000. SkyView Investment Advisors LLC grew its holdings in shares of Schlumberger by 5.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 16,965 shares of the oil and gas company's stock worth $712,000 after acquiring an additional 936 shares during the period. Sfmg LLC increased its stake in Schlumberger by 4.1% in the 3rd quarter. Sfmg LLC now owns 88,398 shares of the oil and gas company's stock valued at $3,708,000 after purchasing an additional 3,478 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after buying an additional 16,350 shares during the last quarter. Finally, PVG Asset Management Corp acquired a new position in Schlumberger during the third quarter worth about $386,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insiders Place Their Bets

In related news, insider Aparna Raman sold 25,133 shares of the 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 completion of the transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % 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. Insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

SLB traded down $1.23 on Wednesday, hitting $32.88. 4,897,322 shares of the company's stock were exchanged, compared to its average volume of 13,203,603. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $38.28 and a two-hundred day moving average of $40.24. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The firm has a market cap of $44.71 billion, a PE ratio of 10.57, a P/E/G ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (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 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SLB shares. BMO Capital Markets cut their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Jefferies Financial Group decreased 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Piper Sandler reduced their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Five 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.32.

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.