Game Creek Capital LP Trims Stock Position in Schlumberger Limited (NYSE:SLB)

Game Creek Capital LP reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 55.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,250 shares of the oil and gas company’s stock after selling 53,500 shares during the quarter. Game Creek Capital LP’s holdings in Schlumberger were worth $1,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also 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 fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth $34,000. Hager Investment Management Services LLC purchased a new stake in Schlumberger during the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In other news, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SLB. Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Evercore ISI restated an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Barclays reduced their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Piper Sandler dropped their price target on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Citigroup increased their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Five research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.32.

Schlumberger Price Performance

Shares of NYSE SLB opened at $34.51 on Friday. The firm has a market capitalization of $46.94 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. 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’s 50-day simple moving average is $37.18 and its 200-day simple moving average is $39.76.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

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.