XTX Topco Ltd Takes $1.13 Million Position in Schlumberger Limited (NYSE:SLB)

XTX Topco Ltd acquired a new position in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, Holdings Channel reports. The firm acquired 29,384 shares of the oil and gas company’s stock, valued at approximately $1,127,000.

A number of other hedge funds have also recently made changes to their positions in SLB. YANKCOM Partnership bought a new position in Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC purchased a new stake in Schlumberger during the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC boosted its stake in Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 844 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Price Performance

NYSE:SLB opened at $33.76 on Wednesday. The firm’s fifty day moving average is $39.72 and its two-hundred day moving average is $40.92. The firm has a market cap of $45.91 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a one year low of $31.11 and a one year high of $51.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last issued its earnings results 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 return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s revenue 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.38%. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SLB shares. JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Citigroup increased their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Barclays cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, Susquehanna lowered their target price on shares of Schlumberger from $55.00 to $48.00 and set a “positive” rating for the company in a research note on Monday. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.15.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were 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 directly owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 315,905 shares of company stock valued at $13,609,283 in the last three months. 0.26% of the stock is currently owned by corporate 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.