Schlumberger Limited (NYSE:SLB) Shares Bought by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC lifted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 38.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 284,039 shares of the oil and gas company's stock after buying an additional 79,034 shares during the quarter. Alpha Cubed Investments LLC's holdings in Schlumberger were worth $11,873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its holdings in Schlumberger by 1.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 223,577 shares of the oil and gas company's stock worth $9,345,000 after purchasing an additional 3,123 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in Schlumberger by 13.8% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 164,196 shares of the oil and gas company's stock worth $6,863,000 after purchasing an additional 19,912 shares during the period. Raleigh Capital Management Inc. increased its holdings in Schlumberger by 91.3% during the 1st quarter. Raleigh Capital Management Inc. now owns 4,464 shares of the oil and gas company's stock worth $187,000 after purchasing an additional 2,130 shares during the period. Capital Advisors Inc. OK increased its holdings in Schlumberger by 30.5% during the 1st quarter. Capital Advisors Inc. OK now owns 859,197 shares of the oil and gas company's stock worth $35,914,000 after purchasing an additional 200,788 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Schlumberger by 11.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,402,233 shares of the oil and gas company's stock worth $58,613,000 after purchasing an additional 143,679 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

NYSE:SLB traded down $0.67 during mid-day trading on Monday, reaching $34.98. 9,709,164 shares of the stock were exchanged, compared to its average volume of 13,783,058. The company has a 50 day simple moving average of $34.53 and a 200-day simple moving average of $37.67. The stock has a market capitalization of $47.58 billion, a P/E ratio of 11.86, a P/E/G ratio of 9.38 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 Limited has a 1 year low of $31.11 and a 1 year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last released 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 21.76% and a net margin of 11.62%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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 given a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.26%. Schlumberger's payout ratio is 38.64%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. UBS Group upped their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley cut their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Jefferies Financial Group cut their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Susquehanna dropped their price objective on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Finally, Stifel Nicolaus dropped their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $50.85.

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.