Schlumberger Limited (NYSE:SLB) Position Reduced by FUKOKU MUTUAL LIFE INSURANCE Co

Financial News Live · Apr 11, 2023 22:41

FUKOKU MUTUAL LIFE INSURANCE Co decreased its position in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 13.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,564 shares of the oil and gas company's stock after selling 1,189 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co's holdings in Schlumberger were worth $404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Acadian Asset Management LLC acquired a new stake in Schlumberger during the 1st quarter valued at $25,000. Clearview Wealth Advisors LLC boosted its holdings in Schlumberger by 1,346.0% in the third quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 673 shares in the last quarter. James Investment Research Inc. bought a new stake in Schlumberger in the third quarter worth $28,000. SRS Capital Advisors Inc. boosted its holdings in Schlumberger by 216.0% in the second quarter. SRS Capital Advisors Inc. now owns 809 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 553 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Schlumberger by 59.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 928 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 347 shares in the last quarter. Institutional investors own 80.22% of the company's stock.

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Schlumberger Trading Up 0.4 %

SLB traded up $0.19 during mid-day trading on Tuesday, hitting $50.23. The stock had a trading volume of 643,435 shares, compared to its average volume of 9,629,331. The stock's fifty day simple moving average is $51.70 and its 200-day simple moving average is $50.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.92. The firm has a market capitalization of $71.74 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 0.43 and a beta of 1.76. Schlumberger Limited has a 1-year low of $30.65 and a 1-year high of $62.78.

Schlumberger (NYSE:SLB – Get Rating) last posted its earnings results on Friday, January 20th. The oil and gas company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.80 billion. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The business's revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. As a group, research analysts forecast that Schlumberger Limited will post 3.02 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 6th. Shareholders of record on Wednesday, February 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, February 7th. This is a positive change from Schlumberger's previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 1.99%. Schlumberger's dividend payout ratio (DPR) is 41.67%.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of the firm's stock in a transaction on Monday, March 20th. The shares were sold at an average price of $44.77, for a total transaction of $279,812.50. Following the sale, the chief financial officer now directly owns 219,765 shares in the company, valued at $9,838,879.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of the firm's stock in a transaction on Monday, March 20th. The shares were sold at an average price of $44.77, for a total transaction of $279,812.50. Following the sale, the chief financial officer now directly owns 219,765 shares in the company, valued at $9,838,879.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gavin Rennick sold 20,000 shares of Schlumberger stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $54.10, for a total transaction of $1,082,000.00. Following the completion of the sale, the insider now owns 64,393 shares in the company, valued at $3,483,661.30. The disclosure for this sale can be found here. Insiders have sold a total of 265,453 shares of company stock worth $14,955,915 over the last ninety days. Company insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent research reports. Wolfe Research cut shares of Schlumberger from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 12th. Griffin Securities restated a "buy" rating on shares of Schlumberger in a report on Monday, January 16th. Barclays upped their price target on shares of Schlumberger from $62.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, January 25th. Susquehanna cut their price objective on shares of Schlumberger from $68.00 to $65.00 in a research report on Monday, April 3rd. Finally, Benchmark started coverage on shares of Schlumberger in a research report on Thursday, January 19th. They issued a "buy" rating and a $65.00 price target for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and a consensus price target of $64.07.

About Schlumberger

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company's digital solutions and data products with its Asset Performance Solutions (APS).