Teacher Retirement System of Texas Sells 1,582 Shares of Schlumberger Limited (NYSE:SLB)

Teacher Retirement System of Texas lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,750 shares of the oil and gas company’s stock after selling 1,582 shares during the quarter. Teacher Retirement System of Texas’ holdings in Schlumberger were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. YANKCOM Partnership acquired a new stake in Schlumberger during the fourth quarter worth $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at about $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger in the fourth quarter valued at about $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger in the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC lifted its stake in Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SLB shares. Wells Fargo & Company lowered their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Piper Sandler assumed coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Stifel Nicolaus lowered their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

Shares of SLB stock opened at $42.30 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.45 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 firm 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 stock has a 50-day moving average price of $41.27 and a 200 day moving average price of $41.42.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 the consensus estimate of $9.24 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.70%. Schlumberger’s payout ratio is 36.66%.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares in the company, valued at approximately $8,140,160.34. The trade was a 40.00 % 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 this link. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by insiders.

About Schlumberger

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.