Two Sigma Advisers LP Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Two Sigma Advisers LP raised its position in shares of Schlumberger Limited (NYSE:SLB) by 717.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,232,000 shares of the oil and gas company’s stock after buying an additional 1,081,200 shares during the quarter. Two Sigma Advisers LP’s holdings in Schlumberger were worth $47,235,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Schlumberger during the 4th quarter worth approximately $735,398,000. Pacer Advisors Inc. grew its holdings in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Schlumberger by 3,112.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock worth $1,101,804,000 after purchasing an additional 3,119,543 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The shares were 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 of the company’s stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares in the company, 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. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SLB. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Citigroup upped their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Morgan Stanley cut their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Barclays lowered their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Five equities 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.44.

Schlumberger Stock Down 1.9%

SLB opened at $35.10 on Tuesday. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a fifty day moving average of $36.64 and a two-hundred day moving average of $39.53. The stock has a market capitalization of $47.74 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the previous year, the firm posted $0.75 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued 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 3.25%. Schlumberger’s payout ratio is 38.64%.

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.