Schlumberger Limited (NYSE:SLB) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its position in Schlumberger Limited (NYSE:SLB) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,394 shares of the oil and gas company’s stock after purchasing an additional 16,867 shares during the period. Wedge Capital Management L L P NC’s holdings in Schlumberger were worth $6,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Highland Capital Management LLC increased its position 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 purchasing an additional 97,516 shares during the last quarter. Guinness Asset Management LTD increased its position in shares of Schlumberger by 0.3% in the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after purchasing an additional 965 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after buying an additional 380,185 shares during the last quarter. Allworth Financial LP grew its position in shares of Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position 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 during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.1 %

Shares of SLB stock opened at $49.55 on Wednesday. The stock has a market cap of $70.73 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. 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 Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The firm’s 50 day moving average price is $51.68 and its two-hundred day moving average price is $52.28.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the previous year, the company posted $0.63 earnings per share. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.5 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is presently 36.54%.

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,768 shares of company stock valued at $5,511,037. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on SLB shares. Bank of America dropped their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday. Barclays reduced their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Royal Bank of Canada raised their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research note on Monday. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.67.

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.