Shell Asset Management Co. Lowers Holdings in Schlumberger Limited (NYSE:SLB)

Shell Asset Management Co. lowered its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,609 shares of the oil and gas company's stock after selling 22,663 shares during the period. Shell Asset Management Co.'s holdings in Schlumberger were worth $1,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SLB. Silvercrest Asset Management Group LLC increased its stake in Schlumberger by 18.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 78,990 shares of the oil and gas company's stock valued at $3,028,000 after acquiring an additional 12,284 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in Schlumberger during the fourth quarter valued at about $1,893,000. Riverview Capital Advisers LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $2,301,000. Point72 Europe London LLP bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $3,066,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Schlumberger by 53.5% during the 4th quarter. Point72 Hong Kong Ltd now owns 209,836 shares of the oil and gas company's stock valued at $8,045,000 after purchasing an additional 73,097 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Gavin Rennick sold 26,990 shares of the 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 this link. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Down 1.6%

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

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

Schlumberger Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Susquehanna lowered their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Morgan Stanley cut their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday. Piper Sandler lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Jefferies Financial Group dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.44.

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.