CoreCommodity Management LLC Sells 8,771 Shares of Schlumberger Limited (NYSE:SLB)

CoreCommodity Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,737 shares of the oil and gas company's stock after selling 8,771 shares during the period. CoreCommodity Management LLC's holdings in Schlumberger were worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Schlumberger during the 4th quarter worth about $735,398,000. Pacer Advisors Inc. boosted its holdings in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after acquiring an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares during the period. Clearbridge Investments LLC lifted its holdings in 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. boosted its stake in Schlumberger by 12.4% in the 4th quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock valued at $590,320,000 after purchasing an additional 1,700,203 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen increased their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Stifel Nicolaus reduced their price target 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. BMO Capital Markets lowered their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Jefferies Financial Group cut their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Five equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.32.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger 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 completion of the sale, the insider now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger 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 sale, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Schlumberger stock opened at $33.62 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a market cap of $45.72 billion, a P/E ratio of 10.81, a P/E/G ratio of 10.10 and a beta of 1.06. The company's 50 day moving average price is $37.55 and its two-hundred day moving average price is $39.91. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last announced 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). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business's revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm 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 dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is currently 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.

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