Thrivent Financial for Lutherans Sells 3,798 Shares of Schlumberger Limited (NYSE:SLB)

Thrivent Financial for Lutherans cut its holdings in Schlumberger Limited (NYSE:SLB) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 222,108 shares of the oil and gas company’s stock after selling 3,798 shares during the period. Thrivent Financial for Lutherans’ holdings in Schlumberger were worth $8,574,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in 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 worth $500,082,000 after acquiring an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Schlumberger by 20.6% during the 3rd 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 valued at $470,425,000 after purchasing an additional 1,916,851 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Schlumberger by 196.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company’s stock valued at $88,654,000 after purchasing an additional 1,533,366 shares during the period. Scharf Investments LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at $52,607,000. Finally, OFI Invest Asset Management bought a new stake in shares of Schlumberger during the 4th quarter valued at $48,461,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent analyst reports. Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Finally, Citigroup raised their target price on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $41.09 on Friday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock has a market capitalization of $55.87 billion, a P/E ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47. The firm has a fifty day simple moving average of $41.18 and a two-hundred day simple moving average of $41.41. 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 (NYSE:SLB) last issued its quarterly earnings data 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. 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 analysts’ expectations of $9.24 billion. During the same period last year, the company posted $0.86 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared 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 2.77%. Schlumberger’s payout ratio is currently 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.