Kings Path Partners LLC Invests $62,000 in Schlumberger Limited (NYSE:SLB)

Kings Path Partners LLC purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,623 shares of the oil and gas company’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. 1832 Asset Management L.P. bought a new stake in shares of Schlumberger during the 2nd quarter valued at $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares in the last quarter. Legal & General Group Plc boosted its stake in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Schlumberger by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after purchasing an additional 915,705 shares during the period. Finally, Merewether Investment Management LP bought a new position in shares of Schlumberger during the second quarter valued at approximately $42,957,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several recent research reports. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Barclays dropped their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Finally, Susquehanna reduced their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $58.25.

Schlumberger Stock Performance

Shares of SLB traded up $0.38 during trading hours on Monday, hitting $38.97. The stock had a trading volume of 4,547,011 shares, compared to its average volume of 8,731,761. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a fifty day moving average price of $41.12 and a 200 day moving average price of $43.32. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market capitalization of $55.03 billion, a PE ratio of 12.53, a PEG ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. Analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

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.