22,345 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Davis Capital Management

Davis Capital Management bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,345 shares of the oil and gas company's stock, valued at approximately $934,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. YANKCOM Partnership acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $38,000. Finally, True Wealth Design LLC grew its position in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after buying an additional 842 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director now directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays reduced their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Stifel Nicolaus cut their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company cut their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Thursday. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Susquehanna cut their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.38.

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $0.79 during mid-day trading on Friday, hitting $33.87. 10,406,499 shares of the stock were exchanged, compared to its average volume of 13,496,162. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The company has a 50-day simple moving average of $34.44 and a 200 day simple moving average of $38.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a market capitalization of $46.07 billion, a P/E ratio of 10.89, a P/E/G ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors 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 dividend on an annualized basis and a yield of 3.37%. Schlumberger's dividend payout ratio is 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.