DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Cuts Stake in Schlumberger Limited (NYSE:SLB)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its position in Schlumberger Limited (NYSE:SLB - Free Report) by 21.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 238,117 shares of the oil and gas company's stock after selling 66,849 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Schlumberger were worth $9,129,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SLB. YANKCOM Partnership acquired a new position in shares of Schlumberger during the fourth quarter worth $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth about $34,000. Hager Investment Management Services LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC increased its holdings in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 844 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Insider Activity

In other news, insider Gavin Rennick sold 26,990 shares of the business's 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 completion of the sale, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent analyst reports. TD Cowen upped their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an "outperform" rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Evercore ISI restated 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. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $53.32.

Schlumberger Stock Performance

Schlumberger stock traded up $1.25 during mid-day trading on Monday, hitting $35.80. The company had a trading volume of 12,100,091 shares, compared to its average volume of 13,425,339. The company has a market capitalization of $48.70 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company's fifty day moving average is $37.11 and its 200-day moving average is $39.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

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

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

Schlumberger Company 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.