Hourglass Capital LLC Has $10.27 Million Position in Schlumberger Limited (NYSE:SLB)

Hourglass Capital LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 12.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 245,565 shares of the oil and gas company's stock after purchasing an additional 26,220 shares during the period. Schlumberger makes up approximately 2.7% of Hourglass Capital LLC's investment portfolio, making the stock its 3rd largest holding. Hourglass Capital LLC's holdings in Schlumberger were worth $10,265,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SLB. Norges Bank bought a new stake in shares of Schlumberger in the fourth quarter valued at about $735,398,000. Price T Rowe Associates Inc. MD raised its holdings in Schlumberger by 7.4% during 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 in the last quarter. Lazard Asset Management LLC raised its holdings in Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock worth $139,059,000 after acquiring an additional 3,514,134 shares in the last quarter. Deutsche Bank AG raised its holdings in Schlumberger by 12.2% during 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 in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after acquiring an additional 2,646,653 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the business's 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 transaction, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SLB has been the subject of several research analyst reports. Barclays reduced their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. UBS Group lifted their target price on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Wells Fargo & Company decreased their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Finally, Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Schlumberger has an average rating of "Moderate Buy" and an average price target of $50.85.

Schlumberger Trading Up 4.5%

SLB traded up $1.58 during midday trading on Tuesday, hitting $36.53. 13,518,002 shares of the company were exchanged, compared to its average volume of 13,782,037. The firm has a market capitalization of $49.69 billion, a P/E ratio of 12.38, a P/E/G ratio of 9.38 and a beta of 1.01. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The firm's 50 day moving average price is $34.55 and its 200-day moving average price is $37.66. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

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 paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio is 38.64%.

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.