Corebridge Financial Inc. Has $13.37 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Corebridge Financial Inc. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 348,793 shares of the oil and gas company’s stock after selling 17,440 shares during the quarter. Corebridge Financial Inc.’s holdings in Schlumberger were worth $13,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CX Institutional raised its stake in Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after acquiring an additional 244 shares during the period. TCW Group Inc. raised its position in shares of Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after purchasing an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Schlumberger by 0.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after buying an additional 262 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after buying an additional 283 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its stake in Schlumberger by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company’s stock valued at $566,000 after buying an additional 293 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at $1,245,799.89. The trade was a 15.20 % 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 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.4 %

Shares of NYSE SLB opened at $42.30 on Wednesday. The company has a market cap of $57.52 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 10.10 and a beta of 1.47. 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 12 month low of $36.52 and a 12 month high of $55.69. The stock has a 50-day moving average price of $41.27 and a two-hundred day moving average price of $41.42.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.70%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.