Vivaldi Capital Management LP Makes New $3.52 Million Investment in Schlumberger Limited (NYSE:SLB)

Vivaldi Capital Management LP purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 83,008 shares of the oil and gas company's stock, valued at approximately $3,524,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLB. YANKCOM Partnership purchased a new position in Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC purchased a new position in Schlumberger during the 4th quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the 4th quarter valued at about $34,000. Hager Investment Management Services LLC purchased a new stake in Schlumberger in the fourth quarter valued at about $38,000. Finally, True Wealth Design LLC increased its holdings in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Piper Sandler cut their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Jefferies Financial Group reduced their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Susquehanna dropped their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Finally, Barclays reduced their price objective on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Five research 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.44.

Insiders Place Their Bets

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction 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 sale, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares of the company's stock, valued at $2,192,657.28. This trade represents a 33.50% 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 Price Performance

Shares of Schlumberger stock traded down $0.10 during trading hours on Thursday, reaching $33.77. The stock had a trading volume of 11,506,610 shares, compared to its average volume of 13,550,227. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The stock's 50 day moving average is $36.38 and its 200 day moving average is $39.46. The firm has a market capitalization of $45.93 billion, a PE ratio of 10.86, a PEG ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion for 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 business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. Equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.38%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

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.