Grimes & Company Inc. Acquires 39,940 Shares of Schlumberger Limited (NYSE:SLB)

Grimes & Company Inc. increased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 17.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 266,476 shares of the oil and gas company's stock after buying an additional 39,940 shares during the quarter. Grimes & Company Inc.'s holdings in Schlumberger were worth $11,139,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Schlumberger by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the period. Geode Capital Management LLC grew its holdings in shares of Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after acquiring an additional 1,377,134 shares during the period. Deutsche Bank AG grew its holdings in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Schlumberger by 1.2% in the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock worth $1,067,254,000 after acquiring an additional 343,261 shares during the period. Finally, Norges Bank bought a new stake in shares of Schlumberger in the fourth quarter worth $735,398,000. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now owns 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 disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Schlumberger Price Performance

NYSE:SLB opened at $35.90 on Tuesday. The company has a market capitalization of $48.84 billion, a P/E ratio of 11.54, a P/E/G ratio of 10.10 and a beta of 1.01. The business's 50-day moving average is $34.43 and its 200 day moving average is $38.25. 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 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last released its 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). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior 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, equities research analysts forecast 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. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. Schlumberger's dividend payout ratio is presently 38.64%.

Analyst Ratings Changes

SLB has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Morgan Stanley cut their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Jefferies Financial Group cut their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Susquehanna cut their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Finally, Wells Fargo & Company cut their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.38.

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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