Allspring Global Investments Holdings LLC Sells 7,191 Shares of Schlumberger Limited (NYSE:SLB)

Allspring Global Investments Holdings LLC reduced its stake in Schlumberger Limited (NYSE:SLB) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 945,908 shares of the oil and gas company’s stock after selling 7,191 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Schlumberger were worth $39,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SLB. Norges Bank bought a new stake in shares of Schlumberger in the 4th quarter valued at approximately $735,398,000. Price T Rowe Associates Inc. MD grew its stake in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the period. Lazard Asset Management LLC grew its stake in shares of Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the period. Deutsche Bank AG grew its position in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock worth $101,708,000 after acquiring an additional 2,646,653 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Down 0.5%

NYSE:SLB opened at $33.83 on Tuesday. The stock’s fifty day moving average price is $34.45 and its two-hundred day moving average price is $37.75. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The company has a market cap of $46.01 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 8.86 and a beta of 1.02.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is currently 38.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company decreased their price target on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Jefferies Financial Group decreased their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Piper Sandler decreased their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus decreased their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.68.

Insider Buying and Selling at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director owned 23,525 shares of the company’s stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Schlumberger 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.