Tidal Investments LLC Purchases 54,637 Shares of Schlumberger Limited (NYSE:SLB)

Tidal Investments LLC grew its position in shares of Schlumberger Limited (NYSE:SLB) by 60.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,054 shares of the oil and gas company’s stock after acquiring an additional 54,637 shares during the period. Tidal Investments LLC’s holdings in Schlumberger were worth $5,561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake 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 valued at $2,913,312,000 after acquiring an additional 5,225,828 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after buying an additional 1,377,134 shares during the period. Deutsche Bank AG increased its position in shares of Schlumberger by 12.2% during the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock valued at $1,101,804,000 after buying an additional 3,119,543 shares during the period. First Eagle Investment Management LLC increased its position in shares of Schlumberger by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after buying an additional 343,261 shares during the period. Finally, Norges Bank purchased a new position in shares of Schlumberger during the fourth quarter valued at about $735,398,000. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Citigroup boosted their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Susquehanna reduced their price target on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. Finally, 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. Five equities research 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.44.

Insider Activity at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Schlumberger Trading Down 1.6%

Shares of NYSE SLB opened at $34.54 on Wednesday. The firm’s 50 day moving average price is $36.53 and its 200-day moving average price is $39.49. The company has a market cap of $46.98 billion, a PE ratio of 11.11, a P/E/G ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 52-week low of $31.11 and a 52-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.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. 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 3.30%. Schlumberger’s dividend payout ratio (DPR) is 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.