First Eagle Investment Management LLC Purchases 343,261 Shares of Schlumberger Limited (NYSE:SLB)

First Eagle Investment Management LLC raised its position in Schlumberger Limited (NYSE:SLB) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,836,555 shares of the oil and gas company’s stock after purchasing an additional 343,261 shares during the quarter. Schlumberger accounts for about 2.4% of First Eagle Investment Management LLC’s holdings, making the stock its 15th biggest holding. First Eagle Investment Management LLC’s holdings in Schlumberger were worth $1,067,254,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SLB. Pacer Advisors Inc. raised its position in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Schlumberger by 196.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company’s stock worth $88,654,000 after acquiring an additional 1,533,366 shares during the last quarter. Scharf Investments LLC bought a new position in shares of Schlumberger during the fourth quarter worth about $52,607,000. Finally, OFI Invest Asset Management bought a new position in shares of Schlumberger during the fourth quarter worth about $48,461,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SLB shares. BMO Capital Markets decreased their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $39.92 on Friday. The business’s fifty day simple moving average is $40.90 and its 200 day simple moving average is $41.55. The firm has a market capitalization of $54.28 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. 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 issued its quarterly earnings results 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 business 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. As a group, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.86%. Schlumberger’s payout ratio is presently 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.