Neo Ivy Capital Management Buys New Position in Schlumberger Limited (NYSE:SLB)

Neo Ivy Capital Management bought a new stake in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 87,216 shares of the oil and gas company’s stock, valued at approximately $3,343,000.

Several other institutional investors have also added to or reduced their stakes in SLB. Merit Financial Group LLC boosted its holdings in shares of Schlumberger by 48.9% during the 4th quarter. Merit Financial Group LLC now owns 14,694 shares of the oil and gas company’s stock worth $563,000 after buying an additional 4,824 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in shares of Schlumberger by 9.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 5,892 shares of the oil and gas company’s stock worth $226,000 after buying an additional 532 shares in the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of Schlumberger by 13.3% during the 4th quarter. Diversify Advisory Services LLC now owns 11,274 shares of the oil and gas company’s stock worth $435,000 after buying an additional 1,327 shares in the last quarter. Simon Quick Advisors LLC boosted its holdings in shares of Schlumberger by 5.7% during the 4th quarter. Simon Quick Advisors LLC now owns 7,344 shares of the oil and gas company’s stock worth $282,000 after buying an additional 396 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Schlumberger by 3.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 290,924 shares of the oil and gas company’s stock worth $11,234,000 after buying an additional 9,680 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction 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 transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction dated 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 directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SLB. Susquehanna cut their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Stifel Nicolaus cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Piper Sandler cut their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, Jefferies Financial Group lowered their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

Schlumberger Trading Down 0.3%

NYSE SLB opened at $33.77 on Friday. The firm has a market capitalization of $45.93 billion, a P/E ratio of 10.86, a PEG ratio of 10.10 and a beta of 1.06. The business has a fifty day simple moving average of $36.23 and a 200 day simple moving average of $39.41. Schlumberger Limited has a 12 month low of $31.11 and a 12 month 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.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during 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 quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. On average, analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. 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 3.38%. Schlumberger’s dividend payout ratio (DPR) is presently 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.