Invenomic Capital Management LP Acquires Shares of 459,437 Schlumberger Limited (NYSE:SLB)

Invenomic Capital Management LP bought a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 459,437 shares of the oil and gas company’s stock, valued at approximately $17,615,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CX Institutional lifted its holdings in Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after buying an additional 244 shares in the last quarter. TCW Group Inc. grew its stake in shares of Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after acquiring an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after acquiring an additional 262 shares in the last quarter. Cromwell Holdings LLC lifted its stake in shares of Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 283 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in Schlumberger by 2.0% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company’s stock valued at $566,000 after purchasing an additional 293 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the business’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 approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Susquehanna cut their price target on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, April 28th. Citigroup raised their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Evercore ISI restated an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group reduced their price target 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.32.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $34.51 on Friday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a market cap of $46.94 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The business has a fifty day simple moving average of $37.18 and a 200-day simple moving average of $39.74.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share 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%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is currently 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.