The Manufacturers Life Insurance Company Purchases 146,675 Shares of Schlumberger Limited (NYSE:SLB)

The Manufacturers Life Insurance Company grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,362,401 shares of the oil and gas company's stock after purchasing an additional 146,675 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Schlumberger worth $52,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger during the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new position in Schlumberger in the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger during the fourth quarter worth approximately $38,000. Finally, Bogart Wealth LLC boosted its position in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 844 shares during the period. Institutional investors own 81.99% of the company's stock.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. The trade was a 33.50 % 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 corporate insiders.

Schlumberger Price Performance

Shares of SLB stock traded up $1.00 during trading hours on Friday, hitting $34.74. 13,303,533 shares of the company's stock were exchanged, compared to its average volume of 13,318,843. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The stock has a market cap of $47.25 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock's 50-day moving average is $37.83 and its 200-day moving average is $40.04.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share 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 company had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. The company's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.28%. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of research reports. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Susquehanna reduced their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Royal Bank of Canada restated an "outperform" rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company upgraded 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 report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.32.

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.