Deutsche Bank AG Increases Stake in Schlumberger Limited (NYSE:SLB)

Deutsche Bank AG lifted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,737,703 shares of the oil and gas company's stock after purchasing an additional 3,119,543 shares during the period. Deutsche Bank AG owned about 2.05% of Schlumberger worth $1,101,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SLB. YANKCOM Partnership purchased a new position in shares of Schlumberger in the fourth quarter valued at about $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 purchased a new position in Schlumberger in the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC bought a new position in Schlumberger in the 4th quarter worth approximately $38,000. Finally, Bogart Wealth LLC grew its holdings in Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after buying an additional 844 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SLB. JPMorgan Chase & Co. upped their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Evercore ISI reiterated an "in-line" rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Jefferies Financial Group dropped their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, TD Cowen lifted their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $53.32.

Schlumberger Trading Up 0.6 %

Shares of SLB traded up $0.19 during trading hours on Friday, reaching $34.51. 7,407,388 shares of the company traded hands, compared to its average volume of 13,430,644. The stock's fifty day moving average price is $37.18 and its 200 day moving average price is $39.74. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $46.94 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data 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 company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period last year, the firm earned $0.75 earnings per share. Schlumberger's quarterly revenue was down 2.5% on a year-over-year basis. Sell-side 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. Shareholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is 38.64%.

Insider Transactions at Schlumberger

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

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.