7,378 Shares in Schlumberger Limited (NYSE:SLB) Bought by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. bought a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,378 shares of the oil and gas company's stock, valued at approximately $308,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its position in Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after acquiring an additional 17,405 shares in the last quarter. Geode Capital Management LLC boosted its position in Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after buying an additional 1,377,134 shares during the period. Scharf Investments LLC boosted its position in Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after buying an additional 281,773 shares during the period. Integrated Advisors Network LLC boosted its position in Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after buying an additional 66,907 shares during the period. Finally, Ilmarinen Mutual Pension Insurance Co boosted its position in Schlumberger by 40.4% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 220,685 shares of the oil and gas company's stock valued at $8,461,000 after buying an additional 63,500 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on SLB shares. Susquehanna cut their price target on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. UBS Group upped their price target on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. cut their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Finally, Morgan Stanley dropped their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $50.85.

Schlumberger Stock Up 1.2%

Shares of NYSE SLB traded up $0.44 on Thursday, reaching $36.69. 1,642,804 shares of the company's stock traded hands, compared to its average volume of 13,787,652. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The business's 50 day simple moving average is $34.66 and its two-hundred day simple moving average is $37.64. The company has a market cap of $49.90 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 9.62 and a beta of 1.01. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. Schlumberger's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS 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 given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director owned 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company 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.

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