Schlumberger Limited (NYSE:SLB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 5,982.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 905,848 shares of the oil and gas company's stock after acquiring an additional 890,955 shares during the period. GAMMA Investing LLC owned about 0.07% of Schlumberger worth $37,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SLB. TCW Group Inc. raised its position in Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after purchasing an additional 259 shares during the last quarter. Vident Advisory LLC raised its position in Schlumberger by 1.0% during the 4th 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 last quarter. Glen Eagle Advisors LLC grew its holdings in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after acquiring an additional 282 shares during the period. Cromwell Holdings LLC grew its holdings in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock worth $167,000 after acquiring an additional 283 shares during the period. Finally, Patron Partners LLC grew its holdings in shares of Schlumberger by 3.6% during the 4th quarter. Patron Partners LLC now owns 8,498 shares of the oil and gas company's stock worth $326,000 after acquiring an additional 297 shares during the period. Institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

NYSE:SLB traded up $0.79 on Friday, reaching $33.87. 10,406,499 shares of the company's stock traded hands, compared to its average volume of 13,490,029. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $34.44 and a 200-day simple moving average of $38.67. The firm has a market cap of $46.07 billion, a PE ratio of 10.89, a P/E/G ratio of 10.10 and a beta of 1.01. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly 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 business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger's revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued 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 yield of 3.37%. Schlumberger's dividend payout ratio is presently 38.64%.

Insider Activity

In other 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 transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the director now directly owns 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler reduced their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus reduced their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Barclays reduced their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company cut their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group cut their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.38.

About Schlumberger

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.