Dark Forest Capital Management LP Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Dark Forest Capital Management LP raised its position in Schlumberger Limited (NYSE:SLB) by 251.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,363 shares of the oil and gas company’s stock after purchasing an additional 18,872 shares during the quarter. Dark Forest Capital Management LP’s holdings in Schlumberger were worth $1,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. YANKCOM Partnership purchased a new position in Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger during the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger during the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC lifted its stake in Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 844 shares during the period. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Gavin Rennick sold 26,990 shares of Schlumberger 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 sale, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,647 shares of company stock valued at $4,876,679. 0.26% of the stock is owned by insiders.

Schlumberger Stock Down 1.7 %

SLB stock opened at $34.03 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The stock has a market capitalization of $46.28 billion, a P/E ratio of 10.94, a P/E/G ratio of 10.10 and a beta of 1.11. The business has a fifty day moving average price of $38.91 and a 200-day moving average price of $40.56.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLB. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. 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. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, TD Cowen raised their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $54.15.

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.