Schlumberger Limited (NYSE:SLB) Stock Holdings Lessened by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 84.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,284 shares of the oil and gas company's stock after selling 251,371 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Schlumberger were worth $2,357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Schlumberger by 20.2% in the third quarter. Brighton Jones LLC now owns 5,346 shares of the oil and gas company's stock worth $312,000 after purchasing an additional 898 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Schlumberger by 27.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,332 shares of the oil and gas company's stock valued at $15,177,000 after acquiring an additional 55,730 shares during the period. Park Avenue Securities LLC increased its stake in shares of Schlumberger by 21.0% during the third quarter. Park Avenue Securities LLC now owns 35,953 shares of the oil and gas company's stock valued at $2,096,000 after buying an additional 6,251 shares during the period. Graypoint LLC lifted its stake in shares of Schlumberger by 58.5% in the 3rd quarter. Graypoint LLC now owns 8,766 shares of the oil and gas company's stock valued at $511,000 after purchasing an additional 3,237 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Schlumberger by 36.4% in the 3rd quarter. CENTRAL TRUST Co now owns 35,317 shares of the oil and gas company's stock worth $2,059,000 after buying an additional 9,430 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLB. The Goldman Sachs Group reissued a "buy" rating on shares of Schlumberger in a research report on Monday, April 1st. Wells Fargo & Company downgraded Schlumberger from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $68.00 to $53.00 in a research note on Monday, April 29th. Barclays lowered their price target on Schlumberger from $74.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 4th. Morgan Stanley reiterated an "overweight" rating and issued a $65.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.72.

Schlumberger Trading Up 1.3 %

SLB stock traded up $0.63 during trading on Thursday, hitting $48.50. The company had a trading volume of 6,366,987 shares, compared to its average volume of 11,019,676. The firm has a market capitalization of $69.32 billion, a P/E ratio of 16.11, a PEG ratio of 0.92 and a beta of 1.64. The company has a 50 day simple moving average of $51.61 and a 200-day simple moving average of $51.49. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last announced 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 company had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.70 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Schlumberger's revenue was up 12.6% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.27%. 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.