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

Brevan Howard Capital Management LP acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 90,955 shares of the oil and gas company's stock, valued at approximately $3,487,000.

A number of other hedge funds have also recently modified their holdings of the business. YANKCOM Partnership purchased a new position in Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC bought a new position in Schlumberger during the 4th quarter valued at approximately $38,000. Finally, Bogart Wealth LLC raised its stake in Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after buying an additional 844 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLB. Wells Fargo & Company raised Schlumberger from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Citigroup raised their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Finally, Susquehanna lowered their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Monday, April 28th. Five 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 data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and a consensus target price of $53.32.

Schlumberger Stock Performance

Shares of NYSE SLB traded up $0.19 during trading on Friday, hitting $34.51. The company had a trading volume of 7,407,388 shares, compared to its average volume of 13,413,746. The stock has a 50 day simple moving average of $37.27 and a 200 day simple moving average of $39.81. The firm has a market capitalization of $46.94 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. 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 12 month low of $31.11 and a 12 month high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted 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). The firm had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share. As a group, analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

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

Insider Activity at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of the firm'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 transaction, 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 position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.