Invenomic Capital Management LP Purchases New Shares in Schlumberger Limited (NYSE:SLB)

Invenomic Capital Management LP bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 459,437 shares of the oil and gas company's stock, valued at approximately $17,615,000.

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

Insider Buying and Selling

In other news, insider Gavin Rennick sold 26,990 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. The trade was a 33.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Down 0.3%

Shares of NYSE:SLB traded down $0.10 during mid-day trading on Wednesday, reaching $36.01. The stock had a trading volume of 2,684,555 shares, compared to its average volume of 13,394,350. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The firm has a 50 day simple moving average of $37.04 and a two-hundred day simple moving average of $39.67. The firm has a market cap of $48.98 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share 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 the consensus estimate of $8.64 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business's quarterly revenue was down 2.5% compared to the same quarter last year. On average, research analysts predict 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. Investors of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.17%. Schlumberger's payout ratio is 38.64%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research reports. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Susquehanna decreased their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Citigroup upped their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Barclays cut their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.32.

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.