Schlumberger Limited (NYSE:SLB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,256,707 shares of the oil and gas company's stock after selling 378,591 shares during the period. Russell Investments Group Ltd. owned about 0.30% of Schlumberger worth $221,533,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BluePath Capital Management LLC purchased a new stake in Schlumberger during the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger during the 4th quarter valued at $26,000. MCF Advisors LLC raised its stake in Schlumberger by 1,355.9% during the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company's stock valued at $29,000 after buying an additional 461 shares during the last quarter. Janiczek Wealth Management LLC raised its stake in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company's stock valued at $34,000 after buying an additional 602 shares during the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company's stock valued at $39,000 after buying an additional 292 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SLB. Morgan Stanley restated an "overweight" rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Royal Bank of Canada upped their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 3rd. Stifel Nicolaus restated a "buy" rating and issued a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. BMO Capital Markets reduced their price objective on Schlumberger from $66.00 to $64.00 and set an "outperform" rating for the company in a research note on Monday, April 22nd. Finally, HSBC restated a "buy" rating and issued a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.67.

Insider Activity

In related news, insider Katharina Beumelburg sold 8,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the sale, the insider now directly owns 15,581 shares of the company's stock, valued at approximately $819,872.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Katharina Beumelburg sold 8,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the sale, the insider now directly owns 15,581 shares of the company's stock, valued at approximately $819,872.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,545 shares of company stock worth $4,458,430. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Shares of NYSE SLB traded down $0.24 during mid-day trading on Friday, hitting $49.20. 8,250,858 shares of the company's stock traded hands, compared to its average volume of 9,808,635. The company's 50-day moving average is $51.74 and its two-hundred day moving average is $52.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The company has a market capitalization of $70.32 billion, a P/E ratio of 16.35, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business's revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. On average, equities analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.24%. This is a boost from Schlumberger's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger's dividend payout ratio is currently 36.54%.

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.