Riverview Capital Advisers LLC Makes New Investment in Schlumberger Limited (NYSE:SLB)

Riverview Capital Advisers LLC purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,009 shares of the oil and gas company’s stock, valued at approximately $2,301,000.

A number of other hedge funds also recently added to or reduced their stakes in SLB. YANKCOM Partnership bought a new stake in Schlumberger in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth $34,000. Hager Investment Management Services LLC purchased a new position in Schlumberger during the fourth quarter valued at $38,000. Finally, Bogart Wealth LLC raised its stake in shares of 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 buying an additional 844 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Down 0.2%

Shares of Schlumberger stock opened at $36.04 on Thursday. The company has a fifty day simple moving average of $36.93 and a 200-day simple moving average of $39.64. The stock has a market cap of $49.02 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 10.10 and a beta of 1.06. 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 announced its 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 business had revenue of $8.49 billion during 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%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.16%. Schlumberger’s dividend payout ratio (DPR) is presently 38.64%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. TD Cowen boosted their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets lowered their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Stifel Nicolaus cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Piper Sandler lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, Citigroup raised their target price on shares of Schlumberger from $50.00 to $54.00 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. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $53.32.

Insider Activity

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 sale, the insider now owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. 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.