Headlands Technologies LLC, a prominent investment management firm, has recently announced a significant decrease in its stake in shares of Schlumberger Limited (NYSE: SLB). According to the firm’s most recent disclosure with the Securities & Exchange Commission, Headlands Technologies LLC reduced its holdings in Schlumberger by an astonishing 68.0% during the first quarter of this year. This move has certainly captured the attention of industry insiders and analysts alike.
Prior to this development, Headlands Technologies LLC owned 2,908 shares of Schlumberger’s stock. However, after selling 6,189 shares during the first quarter, their remaining holdings now amount to approximately 2,908 shares. At the end of the most recent quarter, these remaining shares were valued at an estimated $143,000. This shift in investment strategy undoubtedly raises questions about Headlands Technologies LLC’s outlook on Schlumberger’s future prospects.
Schlumberger’s recent earnings report further adds intrigue to the situation. On Friday, April 21st of this year, Schlumberger released its earnings results for the quarter. The oil and gas company reported an impressive $0.63 earnings per share (EPS), surpassing analysts’ consensus estimates by $0.02 per share. Additionally, Schlumberger generated $7.74 billion in revenue for the quarter, outperforming analyst predictions of $7.46 billion.
Notably, Schlumberger exhibited a remarkable return on equity of 20.16% and a net margin of 12.94%. These figures reflect the company’s ability to generate substantial profits while efficiently managing its resources and investments. Furthermore, compared to the same quarter last year when it posted earnings per share of $0.34 EPS., Schlumberger’s revenue saw substantial growth of 29.8% on a year-over-year basis.
As we look ahead to the rest of this fiscal year and beyond, analysts are optimistic about Schlumberger’s performance. On average, equities analysts forecast that the company will post earnings per share of 3 for the current year. This projection showcases their confidence in Schlumberger’s ability to sustain its strong financial performance and capitalize on the evolving energy industry worldwide.
Schlumberger Limited prides itself on being a global technology provider for the energy industry. With operations spanning across four divisions – Digital & Integration, Reservoir Performance, Well Construction, and Production Systems – the company offers a comprehensive suite of services.
The Digital & Integration division specializes in integrating adjacent energy systems and managing carbon emissions. The Reservoir Performance division provides crucial data interpretation services to assist with exploration activities, while the Well Construction division focuses on enhancing production processes through construction improvements.
Lastly, the Production Systems division caters to field development and hydrocarbon production needs. This comprehensive range of services enables Schlumberger to cater to various facets of the energy industry on a global scale.
In conclusion, Headlands Technologies LLC’s decision to reduce its stake in Schlumberger Limited has sparked intrigue within the investment community. As industry insiders closely monitor this development, it is important to note that Schlumberger continues to thrive as a leading technology provider in the energy sector. With its impressive earnings report and positive outlook for the future, Schlumberger remains well-positioned to seize opportunities and drive innovation within the industry.
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Institutional Investors and Hedge Funds Show Interest in Schlumberger Limited Amidst Strong Market Performance
Schlumberger Limited, a global provider of technology for the energy industry, has seen modifications in its holdings by institutional investors and hedge funds. Vigilant Capital Management LLC raised its position in Schlumberger by 12.5% during the first quarter, now owning 2,250 shares valued at $110,000. Apricus Wealth LLC also expanded its position in Schlumberger by 0.7%, owning 40,850 shares valued at $2,006,000. Texas Permanent School Fund Corp increased its position by 47.0% to own 296,085 shares worth $14,538,000. Schaper Benz & Wise Investment Counsel Inc., WI raised their position by 0.5%, with ownership of 240,428 shares valued at $11,805,000. Furthermore, Pictet & Cie Europe SA had an astounding increase of 1,702.6% during the first quarter and now owns 204,596 shares worth $10,046,000.
The market performance of Schlumberger reveals that SLB opened at $57.36 on July 20th and has a market capitalization of $81.46 billion with a price-to-earnings ratio of 21.32 and a beta of 1.78. The stock’s fifty-day moving average price was recorded as $48.33 while the two-hundred-day moving average price stood at $50.76.
Schlumberger Limited is involved in various aspects of the energy industry through its four divisions: Digital & Integration, Reservoir Performance,
Well Construction and Production Systems.
These divisions offer services and products related to field development and hydrocarbon production; carbon management solutions; integration of adjacent energy systems; reservoir interpretation and data processing for exploration data; as well as well construction and production improvement services.
Recent news regarding Schlumberger includes CFO Stephane Biguet selling 6,250 shares of the company’s stock on June 26th for a total value of $291,687.50. With this sale, the CFO is left with approximately 201,015 shares valued at $9,381,370.05. Insiders have collectively sold 18,750 shares valued at $874,563 in the past 90 days.
Various research firms have provided insights into Schlumberger’s growth potential. UBS Group raised its rating for Schlumberger from “neutral” to “buy” and increased the price target from $48.00 to $66.00 in their research report released on April 18th. Susquehanna, however, lowered their target price from $68.00 to $65.00 in their report published on April 3rd. Morgan Stanley raised its target price from $55.00 to $60.00 on April 18th while StockNews.com assigned a “hold” rating on May 18th. Raymond James also elevated its target price from $64.00 to $65.00 in their report on April 24th.
With two analysts holding a hold rating and seventeen assigning a buy rating to the stock,
Schlumberger presently has an average rating of “Moderate Buy” according to Bloomberg.com data.
Overall, Schlumberger Limited remains an important player in the energy industry sector globally and continues to attract institutional investors and hedge funds due to its strong market performance and promising growth potential.
*All information stated above is valid as of July 20, 2023.*
