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

D.A. Davidson & CO. cut its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SLB. Price T Rowe Associates Inc. MD lifted its position in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after acquiring an additional 5,225,828 shares in the last quarter. Geode Capital Management LLC increased its stake in Schlumberger by 4.8% in the 4th 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. Deutsche Bank AG increased its stake in Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after buying an additional 3,119,543 shares during the period. First Eagle Investment Management LLC increased its stake in Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock valued at $1,067,254,000 after buying an additional 343,261 shares during the period. Finally, Norges Bank acquired a new position in Schlumberger in the 4th quarter valued at approximately $735,398,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Morgan Stanley dropped their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Jefferies Financial Group dropped their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Stifel Nicolaus dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, Susquehanna dropped their price target on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.85.

Schlumberger Stock Down 0.8%

NYSE SLB traded down $0.29 on Friday, reaching $35.63. The company had a trading volume of 7,240,714 shares, compared to its average volume of 13,799,422. The stock has a market capitalization of $48.46 billion, a P/E ratio of 12.08, a P/E/G ratio of 9.38 and a beta of 1.01. The company's fifty day moving average is $34.53 and its 200 day moving average is $37.67. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. 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 (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.20%. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated 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 owned 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

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.