M&T Bank Corp Acquires 7,878 Shares of Schlumberger Limited (NYSE:SLB)

M&T Bank Corp boosted its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 186,722 shares of the oil and gas company's stock after purchasing an additional 7,878 shares during the period. M&T Bank Corp's holdings in Schlumberger were worth $7,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Dynamic Technology Lab Private Ltd increased its holdings in Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after buying an additional 17,405 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 1,377,134 shares during the last quarter. Scharf Investments LLC lifted its holdings in shares of Schlumberger by 20.5% in the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after acquiring an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in Schlumberger by 810.4% in the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after purchasing an additional 66,907 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co raised its position in Schlumberger by 40.4% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 220,685 shares of the oil and gas company's stock valued at $8,461,000 after purchasing an additional 63,500 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 1.2%

SLB traded up $0.43 on Thursday, reaching $36.68. The company's stock had a trading volume of 11,649,203 shares, compared to its average volume of 13,825,342. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The business's 50 day moving average is $34.66 and its 200 day moving average is $37.64. The stock has a market cap of $49.89 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 9.62 and a beta of 1.01. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data 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 return on equity of 21.76% and a net margin of 11.62%. The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the prior year, the firm earned $0.75 EPS. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders 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 annualized dividend and a yield of 3.11%. Schlumberger's payout ratio is presently 38.64%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SLB. Wells Fargo & Company dropped their price objective on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Thursday, June 5th. JPMorgan Chase & Co. cut their price target 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. Barclays lowered their price objective on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday. UBS Group upped their target price on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Stifel Nicolaus decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.79.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

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.