Entropy Technologies LP Takes $2.49 Million Position in Schlumberger Limited (NYSE:SLB)

Key Points

• Entropy Technologies LP has acquired 59,617 shares of Schlumberger Limited (NYSE:SLB), worth approximately $2,492,000, as detailed in their recent Form 13F filing.
• In other notable transactions, Invesco Ltd. increased its stake in Schlumberger by 3.8%, now owning over 7.6 million shares valued at around $320 million.
• Schlumberger declared a quarterly dividend of $0.285, representing a yield of 3.5%, to be paid on October 9th, with a dividend payout ratio of 39.04%.

Entropy Technologies LP acquired a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 59,617 shares of the oil and gas company's stock, valued at approximately $2,492,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in Schlumberger by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock worth $320,154,000 after buying an additional 281,937 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger in the first quarter valued at approximately $33,000. Fiduciary Family Office LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $829,000. True North Advisors LLC boosted its position in shares of Schlumberger by 5.4% in the first quarter. True North Advisors LLC now owns 12,214 shares of the oil and gas company's stock valued at $511,000 after acquiring an additional 631 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its position in Schlumberger by 17.0% during the first quarter. Frank Rimerman Advisors LLC now owns 10,853 shares of the oil and gas company's stock valued at $454,000 after purchasing an additional 1,580 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Piper Sandler decreased their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. UBS Group lifted their target price on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.28.

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $0.60 on Wednesday, reaching $33.54. 10,367,473 shares of the stock were exchanged, compared to its average volume of 18,598,828. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The firm has a market capitalization of $45.32 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 9.14 and a beta of 1.03. The business has a 50 day moving average price of $34.68 and a two-hundred day moving average price of $36.74.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the previous year, the company posted $0.85 earnings per share. Schlumberger's revenue for the quarter was down 6.5% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.4%. Schlumberger's payout ratio is 39.04%.

Schlumberger 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.