CenterBook Partners LP Sells 25,545 Shares of Schlumberger Limited (NYSE:SLB)

CenterBook Partners LP lowered its position in Schlumberger Limited (NYSE:SLB - Free Report) by 53.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,179 shares of the oil and gas company's stock after selling 25,545 shares during the quarter. CenterBook Partners LP's holdings in Schlumberger were worth $927,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd lifted its stake in shares of Schlumberger by 32.2% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its stake 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 purchasing an additional 1,377,134 shares in the last quarter. Scharf Investments LLC lifted its stake in shares of Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC increased its position in shares of Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after acquiring an additional 66,907 shares during the last quarter. Finally, Alan B Lancz & Associates Inc. purchased a new stake in shares of Schlumberger during the first quarter worth about $308,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler dropped their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday. Jefferies Financial Group lowered their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Stifel Nicolaus reduced their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.56.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Schlumberger Stock Down 3.7%

Schlumberger stock traded down $1.30 during mid-day trading on Friday, hitting $33.37. 35,360,423 shares of the company's stock were exchanged, compared to its average volume of 14,295,429. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The stock has a market cap of $45.39 billion, a P/E ratio of 11.31, a P/E/G ratio of 9.25 and a beta of 1.01. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The stock has a 50 day moving average of $34.88 and a two-hundred day moving average of $37.56.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business's quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared 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. This represents a $1.14 annualized dividend and a dividend yield of 3.42%. Schlumberger's dividend 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.