Twinbeech Capital LP Makes New Investment in Schlumberger Limited (NYSE:SLB)

Twinbeech Capital LP bought a new position in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, HoldingsChannel.com reports. The firm bought 9,316 shares of the oil and gas company’s stock, valued at approximately $357,000.

A number of other institutional investors also recently bought and sold shares of the company. CX Institutional boosted its position in Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 244 shares in the last quarter. TCW Group Inc. lifted its position in shares of Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after acquiring an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after acquiring an additional 262 shares in the last quarter. Cromwell Holdings LLC lifted its position in shares of Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after acquiring an additional 283 shares in the last quarter. Finally, Patron Partners LLC lifted its position in shares of Schlumberger by 3.6% in the fourth quarter. Patron Partners LLC now owns 8,498 shares of the oil and gas company’s stock valued at $326,000 after acquiring an additional 297 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays reduced their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group dropped their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Wells Fargo & Company upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Piper Sandler dropped their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.44.

Schlumberger Price Performance

SLB stock opened at $33.77 on Friday. 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 Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The firm has a market cap of $45.93 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The stock has a 50-day simple moving average of $36.23 and a 200-day simple moving average of $39.41.

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

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.38%. Schlumberger’s dividend payout ratio (DPR) is currently 38.64%.

Insider Activity

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

Schlumberger Company 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.