Rafferty Asset Management LLC Has $12.49 Million Holdings in Schlumberger Limited (NYSE:SLB)

Rafferty Asset Management LLC lowered its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,726 shares of the oil and gas company's stock after selling 12,564 shares during the period. Rafferty Asset Management LLC's holdings in Schlumberger were worth $12,488,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raiffeisen Bank International AG bought a new stake in Schlumberger during the 4th quarter valued at $1,893,000. Riverview Capital Advisers LLC bought a new stake in shares of Schlumberger in the 4th quarter worth $2,301,000. Point72 Europe London LLP bought a new stake in shares of Schlumberger in the 4th quarter worth $3,066,000. Point72 Hong Kong Ltd raised its stake in shares of Schlumberger by 53.5% in the 4th quarter. Point72 Hong Kong Ltd now owns 209,836 shares of the oil and gas company's stock worth $8,045,000 after buying an additional 73,097 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Schlumberger by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 305,175 shares of the oil and gas company's stock worth $11,700,000 after buying an additional 9,027 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. 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. Piper Sandler dropped their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley dropped their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday. Royal Bank of Canada reissued an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Susquehanna dropped their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock 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, Schlumberger has a consensus rating of "Moderate Buy" and a consensus target price of $52.44.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the sale, the insider now directly owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Down 1.6%

Shares of SLB stock traded down $0.57 on Tuesday, reaching $34.54. 13,186,326 shares of the company's stock traded hands, compared to its average volume of 13,529,271. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. 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 company has a market capitalization of $46.98 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The business's 50 day moving average price is $36.64 and its two-hundred day moving average price is $39.53.

Schlumberger (NYSE:SLB - Get Free Report) last issued 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). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. The business's quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.30%. Schlumberger's dividend payout ratio is 38.64%.

Schlumberger Company 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.