Schlumberger Limited (NYSE:SLB) Shares Acquired by Deutsche Bank AG

by · The Cerbat Gem

Deutsche Bank AG grew its holdings in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 12.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,737,703 shares of the oil and gas company’s stock after buying an additional 3,119,543 shares during the period. Deutsche Bank AG’s holdings in Schlumberger were worth $1,101,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in SLB. Norges Bank acquired a new position in shares of Schlumberger during the 4th quarter worth $735,398,000. Pacer Advisors Inc. increased its holdings in Schlumberger by 12,289.6% during 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 acquiring an additional 12,938,082 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Schlumberger by 43,028.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock valued at $101,708,000 after purchasing an additional 2,646,653 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Schlumberger by 12.4% during the 4th quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company’s stock worth $590,320,000 after purchasing an additional 1,700,203 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The transaction 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 firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SLB has been the topic of several recent research reports. 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. Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Citigroup increased their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Five 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.32.

Get Our Latest Report on SLB

Schlumberger Stock Performance

NYSE:SLB opened at $33.50 on Thursday. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a market cap of $45.56 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 10.10 and a beta of 1.06. The firm’s 50-day moving average is $37.38 and its 200-day moving average is $39.87. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter last year, the company earned $0.75 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.40%. Schlumberger’s payout ratio is 38.64%.

Schlumberger Company Profile

(Free Report)

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.

See Also

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