Point72 Europe London LLP Invests $3.07 Million in Schlumberger Limited (NYSE:SLB)

Point72 Europe London LLP purchased a new stake in Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 79,980 shares of the oil and gas company’s stock, valued at approximately $3,066,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Schlumberger during the 4th quarter worth approximately $735,398,000. Pacer Advisors Inc. lifted its stake in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after buying an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Schlumberger by 3,112.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock worth $139,059,000 after purchasing an additional 3,514,134 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Down 0.2%

Shares of NYSE SLB opened at $36.04 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The company has a market cap of $49.02 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 10.10 and a beta of 1.06. The business has a fifty day simple moving average of $36.93 and a 200-day simple moving average of $39.64.

Schlumberger (NYSE:SLB) 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). The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $0.75 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.16%. Schlumberger’s payout ratio is 38.64%.

Insider Activity

In other news, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction 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. The trade was 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 corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SLB. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Wells Fargo & Company upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Finally, TD Cowen lifted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.32.

About Schlumberger

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.