Schlumberger Limited (NYSE:SLB) Stake Raised by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 305,175 shares of the oil and gas company's stock after acquiring an additional 9,027 shares during the period. ProShare Advisors LLC's holdings in Schlumberger were worth $11,700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quantinno Capital Management LP boosted its holdings in Schlumberger by 12.2% in the fourth quarter. Quantinno Capital Management LP now owns 149,928 shares of the oil and gas company's stock valued at $5,748,000 after purchasing an additional 16,312 shares during the period. Mufg Securities Americas Inc. purchased a new position in shares of Schlumberger in the 4th quarter valued at about $799,000. Man Group plc grew its stake in Schlumberger by 132.9% during the 4th quarter. Man Group plc now owns 417,104 shares of the oil and gas company's stock worth $15,992,000 after buying an additional 237,992 shares during the last quarter. NorthRock Partners LLC grew its stake in Schlumberger by 68.9% during the 4th quarter. NorthRock Partners LLC now owns 17,865 shares of the oil and gas company's stock worth $685,000 after buying an additional 7,287 shares during the last quarter. Finally, Northeast Financial Consultants Inc grew its stake in Schlumberger by 95.1% during the 4th quarter. Northeast Financial Consultants Inc now owns 80,755 shares of the oil and gas company's stock worth $3,096,000 after buying an additional 39,355 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Down 1.6%

Shares of Schlumberger stock traded down $0.57 during trading hours on Tuesday, reaching $34.54. 13,186,326 shares of the company's stock were exchanged, compared to its average volume of 13,529,271. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The firm has a market capitalization of $46.98 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The company has a fifty day moving average of $36.64 and a 200-day moving average of $39.53. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period last year, the business earned $0.75 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

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

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The stock was 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 directly owns 31,031 shares in the company, 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 this link. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares of the company's stock, valued at $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent research reports. TD Cowen increased their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Stifel Nicolaus decreased their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Piper Sandler reduced their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.44.

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.