Point72 Hong Kong Ltd Increases Holdings in Schlumberger Limited (NYSE:SLB)

Point72 Hong Kong Ltd boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 53.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,836 shares of the oil and gas company's stock after purchasing an additional 73,097 shares during the quarter. Point72 Hong Kong Ltd's holdings in Schlumberger were worth $8,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. YANKCOM Partnership bought a new stake in shares of Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger in the fourth quarter valued at about $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger in the fourth quarter valued at about $38,000. Finally, Bogart Wealth LLC raised its stake in Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 844 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SLB shares. Piper Sandler dropped their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Morgan Stanley lowered their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday. Stifel Nicolaus lowered their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Jefferies Financial Group lowered 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. Five equities 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 company's stock. According to data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average price target of $52.44.

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $0.02 during trading hours on Friday, hitting $35.74. 12,621,645 shares of the company's stock traded hands, compared to its average volume of 13,517,352. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The stock has a market capitalization of $48.61 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 10.10 and a beta of 1.06. The company has a fifty day simple moving average of $36.74 and a 200-day simple moving average of $39.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

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

Schlumberger Dividend Announcement

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

Insider Transactions at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 31,031 shares in the company, 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 through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.