Northeast Financial Consultants Inc Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Northeast Financial Consultants Inc increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 95.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,755 shares of the oil and gas company's stock after acquiring an additional 39,355 shares during the quarter. Northeast Financial Consultants Inc's holdings in Schlumberger were worth $3,096,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Occudo Quantitative Strategies LP bought a new stake in Schlumberger during the 4th quarter worth approximately $2,022,000. OMERS ADMINISTRATION Corp raised its position in Schlumberger by 20.6% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 59,839 shares of the oil and gas company's stock worth $2,294,000 after buying an additional 10,231 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Schlumberger in the 4th quarter worth $619,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Schlumberger by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,587 shares of the oil and gas company's stock worth $5,390,000 after buying an additional 6,597 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings 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 buying an additional 3,514,134 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SLB shares. Morgan Stanley decreased their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday. Susquehanna lowered their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.44.

Insider Transactions at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated 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 completion of the transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares of the company's stock, valued at $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Down 1.8%

Shares of NYSE:SLB traded down $0.64 on Monday, hitting $35.13. 3,823,798 shares of the company's stock were exchanged, compared to its average volume of 13,479,877. The company has a market capitalization of $47.79 billion, a PE ratio of 11.31, a P/E/G ratio of 10.10 and a beta of 1.06. The firm's 50-day moving average is $36.74 and its 200 day moving average is $39.56. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB - Get Free Report) last posted 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 firm had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.24%. Schlumberger's dividend payout ratio is 38.64%.

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.