Dark Forest Capital Management LP Acquires 18,872 Shares of Schlumberger Limited (NYSE:SLB)

Dark Forest Capital Management LP grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 251.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,363 shares of the oil and gas company's stock after purchasing an additional 18,872 shares during the period. Dark Forest Capital Management LP's holdings in Schlumberger were worth $1,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SLB. YANKCOM Partnership bought a new position in Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger during the fourth quarter worth about $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger in the fourth quarter valued at about $34,000. Hager Investment Management Services LLC purchased a new position in Schlumberger in the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC grew its holdings 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 purchasing an additional 844 shares during the period. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLB. Piper Sandler cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday. Jefferies Financial Group decreased their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Finally, Citigroup boosted 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. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.32.

Schlumberger Trading Up 0.2 %

SLB stock traded up $0.06 during trading on Tuesday, reaching $34.16. The company had a trading volume of 6,534,470 shares, compared to its average volume of 13,186,716. 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 Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The business has a 50 day moving average of $38.45 and a 200 day moving average of $40.29. The company has a market cap of $46.45 billion, a P/E ratio of 10.96, a PEG ratio of 10.10 and a beta 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 EPS 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 analysts' expectations of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company'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 business earned $0.75 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

Insider Buying and Selling at Schlumberger

In related news, insider Bejar Carmen Rando sold 5,524 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company's stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,647 shares of company stock valued at $4,876,679. Corporate 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.