Corebridge Financial Inc. Has $13.37 Million Holdings in Schlumberger Limited (NYSE:SLB)

Corebridge Financial Inc. decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 348,793 shares of the oil and gas company’s stock after selling 17,440 shares during the quarter. Corebridge Financial Inc.’s holdings in Schlumberger were worth $13,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. YANKCOM Partnership bought a new position in Schlumberger during the fourth quarter worth $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger during the 4th quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the 4th quarter worth about $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC boosted its position in shares of Schlumberger by 468.9% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research analyst reports. Barclays lowered their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. TD Cowen lifted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company cut their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.81.

Insiders Place Their Bets

In other news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on 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 directly owns 53,584 shares in the company, 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 sold a total of 290,772 shares of company stock valued at $12,546,660 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $42.30 on Wednesday. The company has a market capitalization of $57.52 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. 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 $36.52 and a 52-week high of $55.69. The company has a 50-day simple moving average of $41.27 and a 200 day simple moving average of $41.42.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. 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. This represents a $1.14 annualized dividend and a dividend yield of 2.70%. Schlumberger’s payout ratio is presently 36.66%.

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.