Schlumberger Limited (NYSE:SLB) Shares Sold by Nicollet Investment Management Inc.

Nicollet Investment Management Inc. reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 122,796 shares of the oil and gas company’s stock after selling 8,958 shares during the period. Schlumberger makes up 1.6% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 21st largest holding. Nicollet Investment Management Inc.’s holdings in Schlumberger were worth $4,708,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its position in Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after acquiring an additional 528,279 shares during the period. Geode Capital Management LLC grew its position in Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after buying an additional 239,966 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after buying an additional 343,261 shares during the period. Norges Bank purchased a new position in Schlumberger during the 4th quarter worth $735,398,000. Finally, Boston Partners lifted its position in Schlumberger by 9.9% in the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company’s stock valued at $597,356,000 after purchasing an additional 1,405,186 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SLB shares. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Jefferies Financial Group reduced their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, TD Cowen upped their price objective 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. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Schlumberger Stock Down 0.1 %

Schlumberger stock opened at $41.83 on Tuesday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.65. The stock has a market cap of $56.89 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 10.10 and a beta of 1.47. The company’s 50-day moving average price is $41.25 and its two-hundred 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 (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS 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 the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared 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 an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. Schlumberger’s payout ratio is currently 36.66%.

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock valued at $12,546,660 over the last three months. 0.26% of the stock is owned by corporate insiders.

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.