Commerzbank Aktiengesellschaft FI Cuts Stake in Schlumberger Limited (NYSE:SLB)

Commerzbank Aktiengesellschaft FI cut its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 15.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,486 shares of the oil and gas company's stock after selling 8,040 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Schlumberger were worth $1,818,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Command Advisory Services Inc. boosted its holdings in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares during the period. Alpine Bank Wealth Management acquired a new position in Schlumberger during the 1st quarter worth approximately $34,000. True Wealth Design LLC increased its position in Schlumberger by 584.7% in the 4th 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 during the period. Park Square Financial Group LLC acquired a new position in Schlumberger in the 1st quarter valued at approximately $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Schlumberger in the 4th quarter valued at approximately $40,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday. Barclays dropped their price objective on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Susquehanna decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and a consensus price target of $50.56.

Schlumberger Price Performance

Shares of SLB stock traded down $1.30 during trading hours on Friday, reaching $33.37. The stock had a trading volume of 35,360,423 shares, compared to its average volume of 14,309,632. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The firm has a market capitalization of $45.39 billion, a PE ratio of 11.31, a PEG ratio of 9.32 and a beta of 1.01. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The stock's fifty day simple moving average is $34.88 and its 200 day simple moving average is $37.56.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period in the previous year, the business posted $0.85 earnings per share. Schlumberger's revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.42%. Schlumberger's dividend payout ratio (DPR) is presently 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.