SCP Investment LP Has $1.12 Million Position in Schlumberger Limited (NYSE:SLB)

SCP Investment LP lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 136.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,800 shares of the oil and gas company’s stock after purchasing an additional 12,000 shares during the period. Schlumberger accounts for 1.0% of SCP Investment LP’s holdings, making the stock its 9th biggest position. SCP Investment LP’s holdings in Schlumberger were worth $1,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in SLB. CI Investments Inc. lifted its holdings in Schlumberger by 4.9% during the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 192 shares during the last quarter. Montgomery Investment Management Inc. boosted its holdings in Schlumberger by 1.9% in the 3rd quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after buying an additional 200 shares during the period. Allworth Financial LP grew its stake in Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 206 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in Schlumberger by 0.6% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 34,414 shares of the oil and gas company’s stock valued at $2,007,000 after acquiring an additional 206 shares during the period. Finally, Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Schlumberger by 1.9% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 12,196 shares of the oil and gas company’s stock worth $635,000 after acquiring an additional 228 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $68.00 to $53.00 in a report on Monday, April 29th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Barclays dropped their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the sale, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 1.3 %

Schlumberger stock traded up $0.63 during trading hours on Thursday, reaching $48.50. The stock had a trading volume of 6,366,987 shares, compared to its average volume of 11,019,676. The stock has a market cap of $69.32 billion, a PE ratio of 16.11, a PEG ratio of 0.92 and a beta of 1.64. The company has a fifty day simple moving average of $51.61 and a 200-day simple moving average of $51.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the previous year, the business earned $0.63 EPS. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. Analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.27%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

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.