D.A. Davidson & CO. Sells 12,659 Shares of Schlumberger Limited (NYSE:SLB)

D.A. Davidson & CO. lowered its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 9.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,407 shares of the oil and gas company's stock after selling 12,659 shares during the period. D.A. Davidson & CO.'s holdings in Schlumberger were worth $4,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Mutual Advisors LLC increased its stake in shares of Schlumberger by 97.2% in the first quarter. Mutual Advisors LLC now owns 10,359 shares of the oil and gas company's stock valued at $433,000 after buying an additional 5,107 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Schlumberger by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 121,530 shares of the oil and gas company's stock valued at $5,080,000 after buying an additional 470 shares during the period. Capital Investment Counsel Inc increased its stake in shares of Schlumberger by 3.4% in the first quarter. Capital Investment Counsel Inc now owns 15,196 shares of the oil and gas company's stock valued at $635,000 after buying an additional 500 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Schlumberger by 471.8% in the first quarter. Teacher Retirement System of Texas now owns 478,850 shares of the oil and gas company's stock valued at $20,016,000 after buying an additional 395,100 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Schlumberger by 6.9% in the first quarter. First Horizon Advisors Inc. now owns 18,448 shares of the oil and gas company's stock valued at $771,000 after buying an additional 1,190 shares during the period. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Susquehanna decreased their price target on Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. Stifel Nicolaus decreased their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Barclays decreased their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $50.85.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction 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 sale, the director directly owned 23,525 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Company insiders own 0.26% of the company's stock.

Schlumberger Stock Down 0.8%

Schlumberger stock traded down $0.30 during mid-day trading on Monday, reaching $35.35. The stock had a trading volume of 1,739,508 shares, compared to its average volume of 16,241,016. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The stock's 50-day simple moving average is $34.53 and its 200-day simple moving average is $37.67. The firm has a market capitalization of $48.08 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 9.38 and a beta of 1.01.

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 the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter last year, the company posted $0.75 EPS. The company's quarterly revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.23%. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

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.