Nuveen Asset Management LLC Reduces Holdings in Schlumberger Limited (NYSE:SLB)

Nuveen Asset Management LLC lowered its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,451,079 shares of the oil and gas company's stock after selling 244,144 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.25% of Schlumberger worth $132,314,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Occudo Quantitative Strategies LP bought a new position in Schlumberger during the fourth quarter valued at approximately $2,022,000. OMERS ADMINISTRATION Corp lifted its position in Schlumberger by 20.6% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 59,839 shares of the oil and gas company's stock valued at $2,294,000 after purchasing an additional 10,231 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in Schlumberger in the fourth quarter worth about $619,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 acquiring an additional 6,597 shares during the last quarter. Finally, Lazard Asset Management LLC lifted 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. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. TD Cowen boosted their price objective on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Jefferies Financial Group dropped their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average price target of $52.44.

Schlumberger Trading Down 1.6%

NYSE:SLB traded down $0.57 during trading hours on Tuesday, reaching $34.54. 13,186,326 shares of the stock were exchanged, compared to its average volume of 13,502,770. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $36.64 and a two-hundred day moving average of $39.53. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a market capitalization of $46.98 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 10.10 and a beta of 1.06.

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

Schlumberger Dividend Announcement

The business also recently disclosed 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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Transactions at Schlumberger

In other news, 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 sale, the insider now owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction on 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 in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

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.