Voloridge Investment Management LLC Has $80.87 Million Stake in Schlumberger Limited (NYSE:SLB)

Voloridge Investment Management LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 214.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,109,240 shares of the oil and gas company’s stock after acquiring an additional 1,438,362 shares during the quarter. Voloridge Investment Management LLC owned 0.15% of Schlumberger worth $80,868,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $34,000. True Wealth Design LLC increased its stake in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 842 shares during the period. Finally, Hager Investment Management Services LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Aparna Raman sold 25,133 shares of the stock in a transaction 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 transaction, the insider now directly 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 at this link. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction on 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 in the company, valued at approximately $2,192,657.28. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $35.10 on Tuesday. The stock has a market capitalization of $47.74 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The stock’s 50 day moving average price is $36.64 and its two-hundred day moving average price is $39.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last posted 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 the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, equities analysts predict 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. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Citigroup upped their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group lowered their price objective 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 research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.