Fifth Third Bancorp Sells 75,064 Shares of Schlumberger Limited (NYSE:SLB)

Fifth Third Bancorp decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 8.3% in the 4th quarter, HoldingsChannel reports. The fund owned 825,744 shares of the oil and gas company’s stock after selling 75,064 shares during the period. Fifth Third Bancorp’s holdings in Schlumberger were worth $31,659,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Schlumberger by 26.4% in the second quarter. AQR Capital Management LLC now owns 557,533 shares of the oil and gas company’s stock valued at $26,210,000 after buying an additional 116,284 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of Schlumberger by 8.4% in the 2nd quarter. APG Asset Management N.V. now owns 150,796 shares of the oil and gas company’s stock worth $6,638,000 after acquiring an additional 11,735 shares during the last quarter. Daymark Wealth Partners LLC lifted its position in Schlumberger by 5.5% in the 2nd quarter. Daymark Wealth Partners LLC now owns 14,479 shares of the oil and gas company’s stock valued at $683,000 after acquiring an additional 753 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in Schlumberger during the 2nd quarter valued at about $1,180,000. Finally, Legal & General Group Plc increased its holdings in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Barclays dropped their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

SLB opened at $42.30 on Friday. The firm has a 50-day moving average price of $40.74 and a 200-day moving average price of $42.75. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $59.25 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The business 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 of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.70%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Insider Buying and Selling at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,258 shares of company stock valued at $8,732,604 in the last quarter. 0.26% of the stock is currently 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.