Connors Investor Services Inc. Has $7.07 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Connors Investor Services Inc. cut its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 37.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,511 shares of the oil and gas company's stock after selling 110,069 shares during the period. Connors Investor Services Inc.'s holdings in Schlumberger were worth $7,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB boosted its holdings in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after buying an additional 16,350 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Schlumberger by 32.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC boosted its stake in Schlumberger by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares during the period. Bryn Mawr Capital Management LLC grew its position in Schlumberger by 502.6% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after purchasing an additional 165,162 shares in the last quarter. Finally, Narwhal Capital Management raised its stake in Schlumberger by 225.5% during the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company's stock valued at $2,862,000 after purchasing an additional 51,715 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

SLB stock traded up $1.00 during midday trading on Friday, hitting $34.74. The stock had a trading volume of 13,303,533 shares, compared to its average volume of 13,309,597. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The firm has a market capitalization of $47.24 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 10.10 and a beta of 1.11. 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 stock has a 50-day simple moving average of $37.83 and a 200 day simple moving average of $40.06.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.28%. Schlumberger's payout ratio is presently 38.64%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup lifted their price target on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Susquehanna reduced their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Evercore ISI reissued an "in-line" rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Five equities 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.32.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This represents 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 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.