Chevy Chase Trust Holdings LLC Has $89.71 Million Position in Schlumberger Limited (NYSE:SLB)

Chevy Chase Trust Holdings LLC lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,339,928 shares of the oil and gas company’s stock after selling 109,518 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.17% of Schlumberger worth $89,713,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Scharf Investments LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at $52,607,000. Van ECK Associates Corp boosted its stake in shares of Schlumberger by 12.7% in the 4th quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company’s stock valued at $310,696,000 after purchasing an additional 915,925 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of Schlumberger in the 3rd quarter valued at $37,322,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $42.07 on Friday. The company has a market capitalization of $58.94 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 9.49 and a beta of 1.51. The firm’s 50 day simple moving average is $40.06 and its 200 day simple moving average is $42.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

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

Schlumberger Increases Dividend

The company 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 $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase 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%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLB. Jefferies Financial Group reduced their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Citigroup boosted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Susquehanna reduced their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Stifel Nicolaus reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,782 shares of company stock worth $11,442,229. Company insiders own 0.26% of the company’s stock.

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.