Baker Avenue Asset Management LP Increases Holdings in Schlumberger Limited (NYSE:SLB)

Baker Avenue Asset Management LP lifted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507,089 shares of the oil and gas company's stock after acquiring an additional 10,435 shares during the quarter. Baker Avenue Asset Management LP's holdings in Schlumberger were worth $19,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd lifted its position in shares of Schlumberger by 32.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC lifted its holdings in Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after buying an additional 1,377,134 shares during the period. Bryn Mawr Capital Management LLC boosted its position in Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock valued at $7,592,000 after acquiring an additional 165,162 shares during the last quarter. Narwhal Capital Management grew its holdings 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 during the period. Finally, Czech National Bank raised its position in shares of Schlumberger by 5.8% in 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. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Gavin Rennick sold 26,990 shares of the 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 transaction, the insider now directly owns 53,584 shares of the company's stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The stock was 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 trade represents a 44.75 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Up 0.9 %

Shares of SLB stock traded up $0.31 on Friday, hitting $34.63. The stock had a trading volume of 4,830,815 shares, compared to its average volume of 13,376,223. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The stock has a market cap of $47.10 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The business has a 50 day moving average of $37.27 and a 200 day moving average of $39.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 earnings per share. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm 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 dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SLB shares. Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Piper Sandler lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. BMO Capital Markets cut their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $57.00 price target on shares of Schlumberger in a research note 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $53.32.

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.