Sciencast Management LP Takes $316,000 Position in Schlumberger Limited (NYSE:SLB)

Sciencast Management LP bought a new position in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 8,251 shares of the oil and gas company’s stock, valued at approximately $316,000.

Several other hedge funds have also recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Schlumberger by 25.9% during the third 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 purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in Schlumberger by 27.0% during the 3rd 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 in the last quarter. Bryn Mawr Capital Management LLC lifted its position in Schlumberger by 502.6% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after acquiring an additional 165,162 shares in the last quarter. Narwhal Capital Management lifted its position in Schlumberger by 225.5% during the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock worth $2,862,000 after acquiring an additional 51,715 shares in the last quarter. Finally, Czech National Bank lifted its position in Schlumberger by 5.8% during the 4th quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock worth $11,739,000 after acquiring an additional 16,914 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Down 0.5 %

Shares of Schlumberger stock opened at $41.09 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $41.18 and its 200-day simple moving average is $41.41. The stock has a market capitalization of $55.87 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent research 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 target price on the stock. Jefferies Financial Group cut their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company cut their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $55.81.

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.