Lakewood Asset Management LLC Grows Position in Schlumberger Limited (NYSE:SLB)

Lakewood Asset Management LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,235 shares of the oil and gas company’s stock after purchasing an additional 407 shares during the quarter. Lakewood Asset Management LLC’s holdings in Schlumberger were worth $1,504,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SLB. State Street Corp increased its stake in Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after acquiring an additional 528,279 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Legal & General Group Plc increased its position in Schlumberger by 14.0% in 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 purchasing an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Schlumberger by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after purchasing an additional 31,718 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Down 0.4 %

Shares of NYSE:SLB opened at $40.46 on Thursday. The business’s 50 day moving average is $40.95 and its 200 day moving average is $42.95. The stock has a market cap of $57.14 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays decreased their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Piper Sandler assumed coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Dbs Bank assumed coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target for the company. 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 research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.58.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

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.