Cadence Bank Buys 26,272 Shares of Schlumberger Limited (NYSE:SLB)

Cadence Bank raised its position in Schlumberger Limited (NYSE:SLB - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 172,823 shares of the oil and gas company's stock after buying an additional 26,272 shares during the period. Cadence Bank's holdings in Schlumberger were worth $6,626,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. TD Cowen boosted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Wells Fargo & Company raised shares of Schlumberger from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. JPMorgan Chase & Co. boosted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Barclays dropped their price objective on Schlumberger from $54.00 to $53.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Finally, BMO Capital Markets cut their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.15.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction 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. This represents a 44.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now directly owns 53,584 shares of the company's stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,647 shares of company stock worth $4,876,679 over the last ninety days. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Down 1.2 %

Schlumberger stock traded down $0.40 during trading hours on Wednesday, hitting $34.21. The company had a trading volume of 9,952,398 shares, compared to its average volume of 13,073,175. 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 firm has a market capitalization of $46.52 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The firm's fifty day moving average is $39.06 and its 200-day moving average is $40.60.

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.