California Public Employees Retirement System Has $101.77 Million Stake in Schlumberger Limited (NYSE:SLB)

California Public Employees Retirement System lowered its stake in Schlumberger Limited (NYSE:SLB) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,654,428 shares of the oil and gas company’s stock after selling 169,155 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Schlumberger worth $101,771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. YANKCOM Partnership acquired a new stake in Schlumberger in the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger during the 4th quarter worth $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger in the 4th quarter worth about $38,000. Finally, Bogart Wealth LLC raised its position in Schlumberger by 468.9% in the fourth 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 during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 in the last quarter. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $41.83 on Tuesday. The firm has a market capitalization of $56.89 billion, a P/E ratio of 13.45, a P/E/G ratio of 10.10 and a beta of 1.47. The firm’s 50-day moving average price is $41.25 and its 200-day moving average price is $41.48. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.65.

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

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.73%. Schlumberger’s payout ratio is presently 36.66%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SLB shares. Barclays lowered their price objective on Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Monday. Jefferies Financial Group dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Wells Fargo & Company lowered their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, TD Cowen upped their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $55.69.

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.