Rhumbline Advisers Increases Position in Schlumberger Limited (NYSE:SLB)

Rhumbline Advisers boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,505,410 shares of the oil and gas company's stock after acquiring an additional 131,688 shares during the quarter. Rhumbline Advisers owned about 0.18% of Schlumberger worth $104,726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. YANKCOM Partnership bought a new position in shares of Schlumberger during the 4th quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger during the fourth quarter worth $34,000. Hager Investment Management Services LLC bought a new position in Schlumberger during the fourth quarter valued at $38,000. Finally, True Wealth Design LLC raised its stake in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SLB shares. Morgan Stanley dropped their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Stifel Nicolaus decreased their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Jefferies Financial Group cut their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Finally, Barclays lowered their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.44.

Schlumberger Stock Up 2.3%

Shares of SLB traded up $0.76 during mid-day trading on Tuesday, hitting $34.10. The company's stock had a trading volume of 16,171,749 shares, compared to its average volume of 13,509,563. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company's 50-day moving average is $35.11 and its 200-day moving average is $38.88. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The firm has a market capitalization of $46.38 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The firm's quarterly revenue was down 2.5% on a year-over-year basis. On average, equities 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. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

Insiders Place Their Bets

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

Schlumberger 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.