Riverview Capital Advisers LLC Invests $2.30 Million in Schlumberger Limited (NYSE:SLB)

Riverview Capital Advisers LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,009 shares of the oil and gas company's stock, valued at approximately $2,301,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Schlumberger during the 4th quarter valued at $735,398,000. Pacer Advisors Inc. raised its stake in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after buying an additional 5,225,828 shares during the period. Lazard Asset Management LLC increased its position in shares of Schlumberger by 3,112.1% during the fourth 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 buying an additional 3,514,134 shares during the period. Finally, Deutsche Bank AG grew its holdings in Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after purchasing an additional 3,119,543 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Barclays decreased their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Susquehanna reduced their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Finally, Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.44.

Schlumberger Price Performance

NYSE:SLB traded up $0.02 on Friday, reaching $35.74. 12,621,645 shares of the company's stock traded hands, compared to its average volume of 13,517,352. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. 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 stock has a 50-day simple moving average of $36.74 and a 200-day simple moving average of $39.57. The firm has a market cap of $48.61 billion, a PE ratio of 11.49, a P/E/G ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the previous year, the company earned $0.75 earnings per share. Schlumberger's revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.19%. Schlumberger's payout ratio is currently 38.64%.

Insider Buying and Selling at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.