Voya Investment Management LLC Lowers Position in Schlumberger Limited (NYSE:SLB)

Voya Investment Management LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 25.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,591,369 shares of the oil and gas company's stock after selling 547,190 shares during the period. Voya Investment Management LLC owned 0.11% of Schlumberger worth $61,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC increased its holdings in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 844 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Transactions at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were 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. The trade was a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,647 shares of company stock worth $2,390,279 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SLB shares. Royal Bank of Canada reissued an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Barclays dropped their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Evercore ISI restated an "in-line" rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler decreased their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Stifel Nicolaus decreased their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and an average target price of $53.32.

Schlumberger Price Performance

NYSE:SLB traded up $0.25 during mid-day trading on Thursday, hitting $33.50. 7,951,596 shares of the company's stock traded hands, compared to its average volume of 13,244,871. 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 firm's 50 day simple moving average is $38.11 and its 200 day simple moving average is $40.20. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a market cap of $45.55 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

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

Schlumberger Announces Dividend

The company 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 of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.40%. Schlumberger's dividend payout ratio (DPR) is presently 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.