Holocene Advisors LP Has $70.33 Million Position in Schlumberger Limited (NYSE:SLB)

Holocene Advisors LP reduced its stake in Schlumberger Limited (NYSE:SLB) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,676,600 shares of the oil and gas company’s stock after selling 111,494 shares during the quarter. Holocene Advisors LP’s holdings in Schlumberger were worth $70,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Bruce G. Allen Investments LLC lifted its holdings in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the second quarter worth approximately $30,000. Riverview Trust Co lifted its holdings in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the third quarter worth approximately $29,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $43.63 on Tuesday. The business’s fifty day moving average price is $42.98 and its two-hundred day moving average price is $44.36. 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 stock has a market capitalization of $61.61 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.55 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. As a group, analysts predict that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is presently 35.37%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Bank of America cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Morgan Stanley cut their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. BMO Capital Markets cut their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.97.

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.