Pacer Advisors Inc. Reduces Holdings in Schlumberger Limited (NYSE:SLB)

Pacer Advisors Inc. cut its stake in shares of Schlumberger Limited (NYSE:SLBGet Rating) by 37.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,926 shares of the oil and gas company’s stock after selling 64,418 shares during the quarter. Pacer Advisors Inc.’s holdings in Schlumberger were worth $4,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of SLB. Norges Bank bought a new position in Schlumberger during the 4th quarter valued at approximately $938,856,000. BlackRock Inc. increased its position in Schlumberger by 16.9% during the 4th quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock valued at $3,339,042,000 after buying an additional 16,123,949 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Schlumberger by 4,009.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,846,942 shares of the oil and gas company’s stock valued at $144,534,000 after buying an additional 4,728,994 shares in the last quarter. GQG Partners LLC purchased a new stake in Schlumberger during the 4th quarter valued at $55,242,000. Finally, Boston Partners boosted its stake in Schlumberger by 6.5% during the 4th quarter. Boston Partners now owns 24,189,830 shares of the oil and gas company’s stock valued at $725,420,000 after purchasing an additional 1,474,462 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Barclays raised their price target on Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. Stifel Nicolaus raised their price target on Schlumberger from $44.00 to $50.00 in a research note on Friday, April 8th. Piper Sandler upgraded Schlumberger from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $43.00 to $55.00 in a research note on Monday, April 11th. Morgan Stanley raised their price target on Schlumberger from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Two 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.85.

In related news, insider Gavin Rennick sold 10,759 shares of Schlumberger stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $46.70, for a total value of $502,445.30. Following the completion of the transaction, the insider now owns 38,044 shares in the company, valued at $1,776,654.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Claudia Jaramillo sold 11,628 shares of Schlumberger stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of $43.00, for a total value of $500,004.00. The disclosure for this sale can be found here. Insiders sold 26,579,087 shares of company stock worth $431,340,525 over the last ninety days. Insiders own 0.28% of the company’s stock.

NYSE:SLB opened at $37.52 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.24 and a debt-to-equity ratio of 0.84. The business’s 50-day simple moving average is $42.51 and its two-hundred day simple moving average is $39.20. The stock has a market cap of $53.03 billion, a PE ratio of 25.52, a P/E/G ratio of 0.43 and a beta of 1.90. Schlumberger Limited has a 52 week low of $25.90 and a 52 week high of $49.83.

Schlumberger (NYSE:SLBGet Rating) last issued its earnings results on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the previous year, the firm posted $0.21 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 1.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Wednesday, June 1st will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.87%. This is a boost from Schlumberger’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, May 31st. Schlumberger’s payout ratio is 47.62%.

About Schlumberger (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

Featured Articles

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLBGet Rating).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Want More Great Investing Ideas?

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.