Decagon Asset Management LLP Purchases Shares of 368,362 Schlumberger Limited (NYSE:SLB)

Decagon Asset Management LLP purchased a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 368,362 shares of the oil and gas company’s stock, valued at approximately $14,123,000. Schlumberger accounts for about 5.2% of Decagon Asset Management LLP’s investment portfolio, making the stock its 6th largest holding.

Several other large investors have also recently bought and sold shares of the company. CX Institutional boosted its holdings in Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 244 shares during the period. GM Advisory Group LLC boosted its holdings in Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after purchasing an additional 247 shares during the period. TCW Group Inc. boosted its holdings in Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after purchasing an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Schlumberger by 0.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after acquiring an additional 262 shares during the last quarter. Finally, Cromwell Holdings LLC lifted its holdings in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 283 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SLB. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Wells Fargo & Company dropped their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $41.11 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a market cap of $55.90 billion, a PE ratio of 13.22, a P/E/G ratio of 10.10 and a beta of 1.47. The business has a 50 day moving average of $41.04 and a 200 day moving average of $41.44. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

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.