World Equity Group Inc. Sells 11,800 Shares of Schlumberger Limited (NYSE:SLB)

World Equity Group Inc. reduced its position in Schlumberger Limited (NYSE:SLB - Free Report) by 53.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,400 shares of the oil and gas company's stock after selling 11,800 shares during the quarter. World Equity Group Inc.'s holdings in Schlumberger were worth $435,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Schlumberger in the 4th quarter valued at $735,398,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $2,913,312,000 after acquiring an additional 5,225,828 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the last quarter. Deutsche Bank AG boosted its stake in Schlumberger by 12.2% in the fourth 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 acquiring an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of 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 acquiring an additional 2,646,653 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Down 0.1%

SLB opened at $35.82 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The firm has a market capitalization of $48.71 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 9.29 and a beta of 1.01. The business has a 50 day simple moving average of $34.54 and a two-hundred day simple moving average of $38.08.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share 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 the consensus estimate of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. Schlumberger's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. Analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.18%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is 38.64%.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated 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 sale, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLB. Barclays cut their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Susquehanna dropped their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Jefferies Financial Group lowered their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Finally, Stifel Nicolaus dropped their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.38.

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.

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