Two Sigma Investments LP Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Two Sigma Investments LP grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 32.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,971,188 shares of the oil and gas company’s stock after buying an additional 482,521 shares during the period. Two Sigma Investments LP owned 0.14% of Schlumberger worth $75,575,000 as of its most recent SEC filing.

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

Schlumberger Stock Down 1.9%

SLB stock opened at $35.10 on Tuesday. The company has a market cap of $47.74 billion, a price-to-earnings ratio of 11.29, a P/E/G 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 business’s 50-day moving average is $36.64 and its two-hundred day moving average is $39.53. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business 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%. Schlumberger’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. As a group, 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. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio is presently 38.64%.

Analyst Upgrades and Downgrades

SLB has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Stifel Nicolaus lowered their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Wells Fargo & Company raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Finally, Barclays dropped their target price on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $52.44.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 directly owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.