State of New Jersey Common Pension Fund D Reduces Stake in Schlumberger Limited (NYSE:SLB)

State of New Jersey Common Pension Fund D lowered its holdings in Schlumberger Limited (NYSE:SLB) by 5.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 795,331 shares of the oil and gas company’s stock after selling 44,247 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Schlumberger were worth $21,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Firestone Capital Management lifted its stake in shares of Schlumberger by 38.1% in the 4th quarter. Firestone Capital Management now owns 1,450 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 400 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in shares of Schlumberger by 1.3% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 33,838 shares of the oil and gas company’s stock valued at $920,000 after purchasing an additional 427 shares during the period. Covenant Multifamily Offices LLC lifted its stake in shares of Schlumberger by 0.9% in the 4th quarter. Covenant Multifamily Offices LLC now owns 51,332 shares of the oil and gas company’s stock valued at $1,121,000 after purchasing an additional 470 shares during the period. Hoertkorn Richard Charles lifted its stake in shares of Schlumberger by 90.9% in the 1st quarter. Hoertkorn Richard Charles now owns 1,050 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 500 shares during the period. Finally, CVA Family Office LLC lifted its stake in shares of Schlumberger by 54.4% in the 1st quarter. CVA Family Office LLC now owns 1,490 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.

In other news, CAO Howard Guild sold 10,000 shares of the business’s stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $24.96, for a total value of $249,600.00. Following the transaction, the chief accounting officer now directly owns 44,463 shares in the company, valued at $1,109,796.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by insiders.

A number of research firms recently weighed in on SLB. Barclays raised their price objective on Schlumberger from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, March 2nd. Credit Suisse Group lifted their target price on Schlumberger from $21.50 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, January 26th. Piper Sandler lifted their target price on Schlumberger from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, February 1st. Bank of America raised Schlumberger from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $27.00 to $31.00 in a report on Monday, January 25th. Finally, Citigroup lifted their target price on Schlumberger from $34.00 to $35.00 in a report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Schlumberger currently has an average rating of “Buy” and an average price target of $27.24.

NYSE SLB opened at $28.22 on Tuesday. The company has a market capitalization of $39.46 billion, a PE ratio of -3.71, a price-to-earnings-growth ratio of 5.77 and a beta of 2.28. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.92 and a current ratio of 1.22. The business’s fifty day moving average is $27.11 and its 200 day moving average is $23.67. Schlumberger Limited has a fifty-two week low of $13.70 and a fifty-two week high of $30.41.

Schlumberger (NYSE:SLB) last released its earnings results on Thursday, April 22nd. The oil and gas company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.09 billion. Schlumberger had a positive return on equity of 7.34% and a negative net margin of 40.15%. Schlumberger’s quarterly revenue was down 29.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. On average, sell-side analysts forecast that Schlumberger Limited will post 0.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 8th. Investors of record on Wednesday, June 2nd will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, June 1st. This represents a $0.50 annualized dividend and a yield of 1.77%. Schlumberger’s dividend payout ratio (DPR) is presently 34.01%.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. It operates in four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; and petro technical data services and training solutions.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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