Quarry LP Acquires 18,293 Shares of Schlumberger Limited (NYSE:SLB)

Quarry LP lifted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 3,232.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,859 shares of the oil and gas company's stock after acquiring an additional 18,293 shares during the period. Quarry LP's holdings in Schlumberger were worth $723,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger during the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC increased its holdings in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after buying an additional 844 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of NYSE:SLB remained flat at $34.10 during trading on Tuesday. 14,629,626 shares of the stock traded hands, compared to its average volume of 13,233,825. The company has a 50 day simple moving average of $38.28 and a 200-day simple moving average of $40.24. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $46.37 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data 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). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter last year, the company earned $0.75 EPS. Schlumberger's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLB shares. Evercore ISI reiterated an "in-line" rating and set a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Piper Sandler reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. TD Cowen boosted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.32.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,647 shares of company stock worth $4,876,679 in the last quarter. Company insiders own 0.26% of the company's stock.

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.