Occudo Quantitative Strategies LP Makes New Investment in Schlumberger Limited (NYSE:SLB)

Occudo Quantitative Strategies LP acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 52,727 shares of the oil and gas company's stock, valued at approximately $2,022,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. YANKCOM Partnership acquired a new position in shares of Schlumberger during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the fourth quarter worth $34,000. Hager Investment Management Services LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at $38,000. Finally, Bogart Wealth LLC boosted its stake in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 844 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $46.00 to $44.00 in a report on Tuesday, April 8th. Susquehanna decreased their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Monday, April 28th. Piper Sandler lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Morgan Stanley reduced their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $52.44.

Insiders Place Their Bets

In related news, insider Gavin Rennick sold 26,990 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares of the company's stock, valued at $2,192,657.28. The trade was a 33.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value 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 $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

SLB stock traded up $0.02 on Friday, reaching $35.74. The company's stock had a trading volume of 12,621,645 shares, compared to its average volume of 13,485,421. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market capitalization of $48.61 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The firm has a fifty day moving average of $36.82 and a two-hundred day moving average of $39.60.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (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 analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. As a group, analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.19%. Schlumberger's payout ratio is 38.64%.

Schlumberger Company 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.