Woodline Partners LP Invests $3.25 Million in Schlumberger Limited (NYSE:SLB)

Woodline Partners LP bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 84,806 shares of the oil and gas company's stock, valued at approximately $3,251,000.

Several other hedge funds have also modified their holdings of SLB. CX Institutional increased its position in shares of Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock valued at $398,000 after buying an additional 244 shares in the last quarter. TCW Group Inc. grew its stake in Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after acquiring an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock valued at $2,174,000 after purchasing an additional 262 shares in the last quarter. Vident Advisory LLC grew its position in shares of Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after purchasing an additional 273 shares during the period. Finally, Cromwell Holdings LLC grew its position in shares of Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock valued at $167,000 after purchasing an additional 283 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLB has been the topic of several research reports. Jefferies Financial Group decreased their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Morgan Stanley decreased their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Susquehanna dropped their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Piper Sandler reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Barclays lowered their price target on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. 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, the company has an average rating of "Moderate Buy" and a consensus price target of $52.44.

Insiders Place Their Bets

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred 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 completion of the transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Trading Down 0.9%

Shares of NYSE SLB traded down $0.32 during trading on Wednesday, reaching $33.61. The stock had a trading volume of 11,024,684 shares, compared to its average volume of 13,590,146. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a market cap of $45.72 billion, a P/E ratio of 10.81, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The business's 50-day moving average price is $35.79 and its 200-day moving average price is $39.20.

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 for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm 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 revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced 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 3.39%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

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.