Adage Capital Partners GP L.L.C. Decreases Stake in Schlumberger Limited $SLB

Adage Capital Partners GP L.L.C. decreased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 88.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,013 shares of the oil and gas company's stock after selling 255,811 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Schlumberger were worth $1,464,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Schlumberger in the 1st quarter valued at about $169,232,000. Scharf Investments LLC raised its position in 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 valued at $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC raised its position 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 in the last quarter. Alan B Lancz & Associates Inc. acquired a new stake in Schlumberger in the 1st quarter valued at about $308,000. Finally, Stratos Investment Management LLC raised its position in Schlumberger by 236.0% in the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after purchasing an additional 103,182 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

NYSE:SLB traded down $0.45 during mid-day trading on Friday, reaching $35.58. 13,476,657 shares of the stock were exchanged, compared to its average volume of 13,681,992. The company has a 50 day simple moving average of $34.82 and a 200-day simple moving average of $35.75. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The stock has a market capitalization of $53.14 billion, a P/E ratio of 12.18, a P/E/G ratio of 10.00 and a beta of 1.05. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same period last year, the business posted $0.85 EPS. The company's revenue was down 6.5% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley reduced their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. UBS Group reduced their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Melius Research started coverage on Schlumberger in a research report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Stifel Nicolaus dropped their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Finally, Barclays dropped their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.86.

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.