Wealthquest Corp Takes Position in Schlumberger Limited (NYSE:SLB)

Wealthquest Corp acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 19,597 shares of the oil and gas company's stock, valued at approximately $819,000.

Several other large investors have also recently modified their holdings of SLB. Norges Bank purchased a new position in shares of Schlumberger in the fourth quarter worth about $735,398,000. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $2,913,312,000 after buying an additional 5,225,828 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Schlumberger by 3,112.1% in 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 buying an additional 3,514,134 shares during the period. Deutsche Bank AG increased its holdings 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 valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after purchasing an additional 2,646,653 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. Susquehanna reduced their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company reduced their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, June 5th. Stifel Nicolaus reduced their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Barclays reduced their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley reduced their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.03.

Schlumberger Stock Up 1.9%

Shares of SLB traded up $0.62 during mid-day trading on Thursday, reaching $33.80. The company had a trading volume of 14,207,913 shares, compared to its average volume of 13,673,929. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The firm has a 50-day moving average price of $34.51 and a 200 day moving average price of $37.94. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a market capitalization of $45.98 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 8.68 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly 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). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.37%. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Insider Activity at Schlumberger

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 transaction, the director now directly owns 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. The trade was 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 insiders.

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.