R Squared Ltd Purchases New Position in Schlumberger Limited (NYSE:SLB)

R Squared Ltd acquired a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,330 shares of the oil and gas company’s stock, valued at approximately $166,000.

Several other hedge funds also recently made changes to their positions in SLB. Teachers Retirement System of The State of Kentucky grew its stake in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares during the period. Concurrent Investment Advisors LLC raised its position in Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after purchasing an additional 63,413 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares of the company’s stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,258 shares of company stock worth $11,219,004 in the last ninety days. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $40.87 on Thursday. The stock has a fifty day moving average price of $40.69 and a 200 day moving average price of $42.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market cap of $57.25 billion, a PE ratio of 13.14, a P/E/G ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Analyst Ratings Changes

A number of brokerages have recently commented on SLB. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Evercore ISI reiterated an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Finally, Citigroup lifted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $55.81.

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.