Teacher Retirement System of Texas Purchases 395,100 Shares of Schlumberger Limited (NYSE:SLB)

Teacher Retirement System of Texas raised its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 471.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 478,850 shares of the oil and gas company's stock after buying an additional 395,100 shares during the quarter. Teacher Retirement System of Texas' holdings in Schlumberger were worth $20,016,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Schlumberger by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after acquiring an additional 5,225,828 shares during the period. Geode Capital Management LLC boosted its position in Schlumberger by 4.8% during 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 period. Deutsche Bank AG grew its stake in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after buying an additional 3,119,543 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock worth $1,067,254,000 after acquiring an additional 343,261 shares during the period. Finally, Norges Bank acquired a new position in Schlumberger during the 4th quarter valued at about $735,398,000. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLB. Stifel Nicolaus dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Susquehanna lowered their target price on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research report on Tuesday. Barclays reduced their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Wells Fargo & Company cut their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, June 5th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and an average price target of $50.85.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.29 during midday trading on Friday, hitting $35.63. 7,240,714 shares of the company were exchanged, compared to its average volume of 13,775,893. The firm has a 50 day simple moving average of $34.53 and a 200-day simple moving average of $37.67. 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 firm has a market cap of $48.46 billion, a P/E ratio of 12.08, a PEG ratio of 9.38 and a beta of 1.01. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last issued 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 company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current 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 $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.20%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Insiders Place Their Bets

In other Schlumberger 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 transaction of $167,900.00. Following the completion of the sale, the director directly 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 document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is 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.