Bright Rock Capital Management LLC Purchases 100,000 Shares of Schlumberger Limited (NYSE:SLB)

Bright Rock Capital Management LLC raised its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 117.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,000 shares of the oil and gas company's stock after purchasing an additional 100,000 shares during the quarter. Schlumberger accounts for about 1.6% of Bright Rock Capital Management LLC's investment portfolio, making the stock its 26th largest position. Bright Rock Capital Management LLC's holdings in Schlumberger were worth $7,733,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger during the 4th quarter valued at $32,000. True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of Schlumberger by 468.9% in 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. Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $40,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Schlumberger in the fourth quarter worth about $46,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Up 1.9%

SLB stock traded up $0.68 during midday trading on Friday, reaching $36.31. 15,378,704 shares of the company traded hands, compared to its average volume of 13,541,557. The firm has a market capitalization of $49.38 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 10.10 and a beta of 1.01. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The business has a 50 day moving average of $34.27 and a 200-day moving average of $38.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

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 for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Susquehanna reduced their price objective on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Monday, April 28th. Barclays lowered their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Stifel Nicolaus cut their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Morgan Stanley reduced their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Four equities 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.38.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction 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 now directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aparna Raman sold 25,133 shares of the firm'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 in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.