Gradient Investments LLC Grows Position in Schlumberger Limited (NYSE:SLB)

Gradient Investments LLC raised its position in Schlumberger Limited (NYSE:SLB - Free Report) by 2,766.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 336,514 shares of the oil and gas company's stock after acquiring an additional 324,775 shares during the quarter. Gradient Investments LLC's holdings in Schlumberger were worth $18,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Highland Capital Management LLC increased its holdings in shares of Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company's stock valued at $5,278,000 after acquiring an additional 97,516 shares during the last quarter. Guinness Asset Management LTD raised its holdings in Schlumberger by 0.3% during the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company's stock worth $19,468,000 after purchasing an additional 965 shares in the last quarter. Nordea Investment Management AB raised its holdings in Schlumberger by 36.4% during the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company's stock worth $74,080,000 after purchasing an additional 380,185 shares in the last quarter. Allworth Financial LP lifted its position in shares of Schlumberger by 3.8% during the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company's stock worth $324,000 after buying an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company's stock valued at $31,726,000 after buying an additional 35,763 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

Shares of SLB stock traded up $0.08 during trading hours on Friday, reaching $47.66. 11,007,407 shares of the company's stock were exchanged, compared to its average volume of 9,961,223. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. The company has a market cap of $68.12 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The company's 50 day moving average is $51.63 and its two-hundred day moving average is $51.79.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.31%. This is an increase from Schlumberger's previous quarterly dividend of $0.25. Schlumberger's payout ratio is currently 36.54%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were 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 approximately $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Abdellah Merad sold 50,000 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Stephane Biguet sold 6,250 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SLB. Susquehanna reissued a "positive" rating and issued a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. The Goldman Sachs Group reissued a "buy" rating on shares of Schlumberger in a report on Monday, April 1st. Wells Fargo & Company downgraded Schlumberger from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, April 22nd. Finally, HSBC restated a "buy" rating and set a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and an average price target of $68.72.

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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