Vivaldi Capital Management LP Invests $3.52 Million in Schlumberger Limited (NYSE:SLB)

Vivaldi Capital Management LP acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 bought and sold shares of SLB. Price T Rowe Associates Inc. MD grew its holdings in Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the period. Geode Capital Management LLC grew its holdings in Schlumberger by 4.8% during the 4th 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 acquiring an additional 1,377,134 shares during the period. Deutsche Bank AG grew its holdings in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the period. First Eagle Investment Management LLC grew its holdings in Schlumberger by 1.2% during the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock worth $1,067,254,000 after acquiring an additional 343,261 shares during the period. Finally, Norges Bank acquired a new stake in Schlumberger during the 4th quarter worth about $735,398,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction 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 directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. The trade was 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 Stock Performance

Schlumberger stock traded down $0.09 during mid-day trading on Friday, reaching $33.66. The company's stock had a trading volume of 10,464,897 shares, compared to its average volume of 13,557,035. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a market capitalization of $45.79 billion, a P/E ratio of 10.82, a PEG ratio of 10.10 and a beta of 1.06. 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 firm's fifty day moving average price is $36.08 and its two-hundred day moving average price is $39.36.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The firm's quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.39%. Schlumberger's dividend payout ratio is 38.64%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SLB shares. Susquehanna decreased their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Barclays cut their price objective 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. Morgan Stanley cut their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Piper Sandler cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Jefferies Financial Group cut their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Five investment 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 company's stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $52.44.

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.