Envestnet Asset Management Inc. Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Envestnet Asset Management Inc. increased its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 11.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,402,233 shares of the oil and gas company's stock after buying an additional 143,679 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Schlumberger worth $58,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC grew its stake in shares of Schlumberger by 22.9% in the first quarter. Concurrent Investment Advisors LLC now owns 14,841 shares of the oil and gas company's stock worth $620,000 after acquiring an additional 2,768 shares during the last quarter. Simmons Bank increased its stake in Schlumberger by 36.0% during the 1st quarter. Simmons Bank now owns 29,911 shares of the oil and gas company's stock valued at $1,250,000 after purchasing an additional 7,915 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Schlumberger in the first quarter worth about $48,000. Eukles Asset Management lifted its stake in shares of Schlumberger by 10.6% in the first quarter. Eukles Asset Management now owns 10,244 shares of the oil and gas company's stock worth $428,000 after buying an additional 983 shares in the last quarter. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Schlumberger in the first quarter worth approximately $333,000. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. UBS Group raised their price target on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Susquehanna lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.79.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred 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 sale, the director owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Schlumberger Trading Up 1.9%

Shares of NYSE:SLB opened at $37.35 on Friday. The stock has a 50 day moving average of $34.77 and a 200 day moving average of $37.64. The company has a market cap of $50.80 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 9.69 and a beta of 1.01. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last issued its 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 firm 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 21.76% and a net margin of 11.62%. During the same period in the prior year, the company posted $0.75 EPS. The company's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.05%. Schlumberger's dividend payout ratio is presently 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.

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