Corigliano Investment Advisers LLC Acquires Shares of 307,700 Schlumberger Limited (NYSE:SLB)

Corigliano Investment Advisers LLC bought a new position in Schlumberger Limited (NYSE:SLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 307,700 shares of the oil and gas company's stock, valued at approximately $11,797,000. Schlumberger comprises about 5.6% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 3rd biggest holding.

Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Schlumberger by 8.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company's stock valued at $188,232,000 after purchasing an additional 332,500 shares during the period. Nordea Investment Management AB grew its stake in shares of Schlumberger by 7.2% during the 4th quarter. Nordea Investment Management AB now owns 1,767,647 shares of the oil and gas company's stock worth $67,772,000 after acquiring an additional 118,074 shares in the last quarter. Diversified Trust Co grew its stake in shares of Schlumberger by 7.4% during the 4th quarter. Diversified Trust Co now owns 19,344 shares of the oil and gas company's stock worth $742,000 after acquiring an additional 1,331 shares in the last quarter. Sterneck Capital Management LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $259,000. Finally, Fulton Bank N.A. grew its stake in shares of Schlumberger by 5.9% during the 4th quarter. Fulton Bank N.A. now owns 18,518 shares of the oil and gas company's stock worth $710,000 after acquiring an additional 1,029 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Insider Buying and Selling

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on SLB shares. Jefferies Financial Group cut their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Evercore ISI reaffirmed an "in-line" rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Susquehanna dropped their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. TD Cowen raised their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus reduced their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $53.32.

Schlumberger Trading Up 3.7%

Shares of NYSE SLB traded up $1.28 during midday trading on Monday, hitting $35.83. The company's stock had a trading volume of 5,289,329 shares, compared to its average volume of 13,398,726. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business's 50 day moving average is $37.18 and its two-hundred day moving average is $39.73. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The firm has a market cap of $48.74 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

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.