Schlumberger Limited (NYSE:SLB) Shares Acquired by M&T Bank Corp

M&T Bank Corp raised its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,722 shares of the oil and gas company's stock after acquiring 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 & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in Schlumberger in the 1st quarter worth about $34,000. True Wealth Design LLC grew its stake in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after buying an additional 842 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth approximately $40,000. Sound Income Strategies LLC lifted its stake in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 698 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Schlumberger during the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the subject of several research analyst reports. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Barclays decreased their price objective on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday. Morgan Stanley dropped their target price 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. UBS Group lifted their price target on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Stifel Nicolaus lowered their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.79.

Schlumberger Stock Up 1.9%

Shares of SLB stock traded up $0.70 during mid-day trading on Friday, hitting $37.35. 11,333,547 shares of the stock traded hands, compared to its average volume of 13,866,867. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The stock has a market cap of $50.80 billion, a P/E ratio of 12.66, a P/E/G ratio of 9.69 and a beta of 1.01. 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 stock's fifty day moving average is $34.77 and its two-hundred day moving average is $37.64.

Schlumberger (NYSE:SLB - Get Free Report) last posted 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 11.62% and a return on equity of 21.76%. The firm had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the previous year, the company earned $0.75 EPS. The company's revenue was down 2.5% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th were given a $0.285 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.05%. Schlumberger's payout ratio is 38.64%.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated 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 directly owned 23,525 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.26% of the stock is currently owned by company 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.