Concentric Capital Strategies LP Buys 53,824 Shares of Schlumberger Limited (NYSE:SLB)

Concentric Capital Strategies LP increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 162.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,894 shares of the oil and gas company's stock after acquiring an additional 53,824 shares during the quarter. Concentric Capital Strategies LP's holdings in Schlumberger were worth $3,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its position in shares of Schlumberger by 32.2% during 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after buying an additional 1,377,134 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its position in shares of Schlumberger by 502.6% in 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 period. Narwhal Capital Management grew its stake in shares of Schlumberger by 225.5% in the fourth 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 last quarter. Finally, Czech National Bank grew its stake in shares of Schlumberger by 5.8% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of SLB traded up $0.19 on Friday, hitting $34.51. The company's stock had a trading volume of 7,407,388 shares, compared to its average volume of 13,430,644. The company has a 50 day moving average price of $37.18 and a 200 day moving average price of $39.74. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a market capitalization of $46.94 billion, a PE ratio of 11.10, a PEG ratio of 10.10 and a beta of 1.06. 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 announced its 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 business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. On average, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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 given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.30%. Schlumberger's payout ratio is 38.64%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLB. Wells Fargo & Company raised shares of Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $46.00 to $44.00 in a report on Tuesday, April 8th. Citigroup increased their target price 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. Susquehanna lowered their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. TD Cowen raised their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, Evercore ISI restated an "in-line" rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.32.

Insider Activity at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger 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 completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction on 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 directly owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.