Truist Financial Corp Sells 103,298 Shares of Schlumberger Limited (NYSE:SLB)

Truist Financial Corp reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 26.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 287,194 shares of the oil and gas company’s stock after selling 103,298 shares during the period. Truist Financial Corp’s holdings in Schlumberger were worth $14,946,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Royal Bank of Canada boosted its stake in shares of Schlumberger by 79.7% in the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after buying an additional 2,182,706 shares during the last quarter. Sanders Capital LLC boosted its stake in shares of Schlumberger by 34.9% in the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after buying an additional 2,085,506 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Schlumberger by 30.5% in the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after buying an additional 1,954,620 shares during the last quarter. Capital Wealth Planning LLC boosted its stake in shares of Schlumberger by 48.2% in the 3rd quarter. Capital Wealth Planning LLC now owns 5,555,662 shares of the oil and gas company’s stock worth $323,895,000 after buying an additional 1,807,061 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after purchasing an additional 1,412,821 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Royal Bank of Canada upped their price objective on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

Schlumberger Trading Down 3.5 %

Schlumberger stock opened at $47.48 on Wednesday. The stock has a market cap of $67.87 billion, a P/E ratio of 15.77, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The firm’s fifty day moving average price is $51.73 and its 200-day moving average price is $51.93. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.32%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 20,045 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $48.77, for a total value of $977,594.65. Following the completion of the transaction, the insider now directly owns 77,563 shares in the company, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,295 shares of company stock valued at $3,707,595. 0.26% of the stock is currently owned by company 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.