Bridgefront Capital LLC Invests $2.21 Million in Schlumberger Limited (NYSE:SLB)

Bridgefront Capital LLC acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 57,516 shares of the oil and gas company's stock, valued at approximately $2,205,000. Schlumberger comprises approximately 0.7% of Bridgefront Capital LLC's portfolio, making the stock its 4th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Schlumberger in the fourth quarter worth $735,398,000. Pacer Advisors Inc. raised its stake in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after purchasing an additional 12,938,082 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after purchasing an additional 2,646,653 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Schlumberger by 12.4% during the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock worth $590,320,000 after buying an additional 1,700,203 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Up 0.6 %

SLB traded up $0.19 during trading hours on Friday, reaching $34.51. 7,407,388 shares of the stock traded hands, compared to its average volume of 13,413,748. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $46.94 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 10.10 and a beta of 1.06. The firm's fifty day simple moving average is $37.18 and its two-hundred day simple moving average is $39.76.

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

Schlumberger Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.30%. Schlumberger's dividend payout ratio (DPR) is 38.64%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLB. Jefferies Financial Group decreased their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Barclays dropped their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Evercore ISI reissued an "in-line" rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Wells Fargo & Company raised shares of Schlumberger from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus decreased their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and an average target price of $53.32.

Insider Activity at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were 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 of the company's stock, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction on 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 owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate 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.