Northern Trust Corp Raises Position in Schlumberger Limited (NYSE:SLB)

Northern Trust Corp lifted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 9.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,817,667 shares of the oil and gas company's stock after acquiring an additional 1,192,399 shares during the period. Northern Trust Corp owned approximately 0.99% of Schlumberger worth $529,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bard Financial Services Inc. purchased a new position in shares of Schlumberger in the 3rd quarter worth about $229,000. SkyView Investment Advisors LLC grew its position in Schlumberger by 5.8% during the third quarter. SkyView Investment Advisors LLC now owns 16,965 shares of the oil and gas company's stock valued at $712,000 after acquiring an additional 936 shares during the last quarter. Sfmg LLC grew its position in Schlumberger by 4.1% during the third quarter. Sfmg LLC now owns 88,398 shares of the oil and gas company's stock valued at $3,708,000 after acquiring an additional 3,478 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Finally, PVG Asset Management Corp bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $386,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

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

Schlumberger Stock Up 3.0 %

SLB traded up $1.00 on Friday, hitting $34.74. The company had a trading volume of 13,303,533 shares, compared to its average volume of 13,309,587. The stock has a fifty day simple moving average of $37.83 and a 200-day simple moving average of $40.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a market capitalization of $47.24 billion, a P/E ratio of 11.17, a P/E/G ratio of 10.10 and a beta of 1.11. 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 released its 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 analysts' expectations of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is presently 38.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SLB shares. BMO Capital Markets decreased their target price on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Finally, Evercore ISI reiterated an "in-line" rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and an average price target of $53.32.

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.