Amundi Sells 312,483 Shares of Schlumberger Limited (NYSE:SLB)

Amundi cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,549,271 shares of the oil and gas company’s stock after selling 312,483 shares during the period. Amundi owned approximately 1.32% of Schlumberger worth $719,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CX Institutional lifted its holdings in Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 244 shares in the last quarter. GM Advisory Group LLC increased its position in shares of Schlumberger by 3.8% during the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after acquiring an additional 247 shares in the last quarter. TCW Group Inc. increased its position in shares of Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after acquiring an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after acquiring an additional 262 shares in the last quarter. Finally, Cromwell Holdings LLC increased its position in shares of Schlumberger by 7.0% during the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 283 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SLB shares. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Evercore ISI restated an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Stifel Nicolaus cut their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Up 4.0 %

SLB opened at $41.36 on Friday. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The stock’s fifty day simple moving average is $40.73 and its 200 day simple moving average is $41.66. 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 market cap of $56.25 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Insider Buying and Selling

In other news, insider Gavin Rennick sold 26,990 shares of the company’s 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 completion of the sale, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by company insiders.

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.