Decagon Asset Management LLP Takes $14.12 Million Position in Schlumberger Limited (NYSE:SLB)

Decagon Asset Management LLP bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 368,362 shares of the oil and gas company's stock, valued at approximately $14,123,000. Schlumberger makes up about 5.2% of Decagon Asset Management LLP's investment portfolio, making the stock its 6th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after purchasing an additional 16,350 shares in the last quarter. Bryn Mawr Capital Management LLC increased its position in shares of Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after purchasing an additional 165,162 shares in the last quarter. Narwhal Capital Management increased its position in shares of Schlumberger by 225.5% during the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company's stock worth $2,862,000 after purchasing an additional 51,715 shares in the last quarter. Finally, Czech National Bank increased its position in shares of Schlumberger by 5.8% during the fourth quarter. Czech National Bank now owns 306,183 shares of the oil and gas company's stock worth $11,739,000 after purchasing an additional 16,914 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

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Schlumberger Stock Down 0.5 %

Schlumberger stock traded down $0.19 during trading on Friday, reaching $41.09. 73,470,042 shares of the company's stock were exchanged, compared to its average volume of 11,721,963. The company's 50-day moving average is $41.18 and its two-hundred day moving average is $41.41. 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 Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The firm has a market cap of $55.87 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.24 billion. During the same period in the prior year, the company earned $0.86 EPS. The firm's revenue was up 3.3% on a year-over-year basis. On average, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.77%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio is 36.66%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price target on the stock. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Barclays lowered their price target on Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, December 18th. Finally, TD Cowen raised their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.81.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares of the company's stock, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares of the company's stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 290,772 shares of company stock valued at $12,546,660. Company 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.