Adage Capital Partners GP L.L.C. Cuts Stake in Schlumberger Limited (NYSE:SLB)

Adage Capital Partners GP L.L.C. reduced its position in Schlumberger Limited (NYSE:SLB - Free Report) by 71.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 290,824 shares of the oil and gas company's stock after selling 739,592 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Schlumberger were worth $11,150,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger in the fourth quarter valued at $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger during the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC raised its stake in Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 844 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI reaffirmed an "in-line" rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Barclays cut their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.32.

Schlumberger Stock Performance

SLB stock traded down $0.83 during trading hours on Wednesday, hitting $33.28. 21,852,623 shares of the stock were exchanged, compared to its average volume of 13,265,975. 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 company has a 50-day simple moving average of $38.28 and a two-hundred day simple moving average of $40.24. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The firm has a market capitalization of $45.26 billion, a P/E ratio of 10.70, a P/E/G ratio of 10.10 and a beta of 1.11.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Insiders Place Their Bets

In other news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. The trade was a 44.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,647 shares of company stock valued at $2,390,279. 0.26% of the stock is currently owned by insiders.

Schlumberger Profile

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.