State of Alaska Department of Revenue Has $6.85 Million Stake in Schlumberger Limited (NYSE:SLB)

State of Alaska Department of Revenue boosted its stake in shares of Schlumberger Limited (NYSE:SLBFree Report) by 1.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 163,974 shares of the oil and gas company’s stock after buying an additional 2,975 shares during the quarter. State of Alaska Department of Revenue’s holdings in Schlumberger were worth $6,854,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised 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 worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the last quarter. Geode Capital Management LLC raised its holdings in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Schlumberger by 12.2% in the 4th 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. First Eagle Investment Management LLC boosted its stake in shares of Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after purchasing an additional 343,261 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Schlumberger during the fourth quarter worth $735,398,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Wells Fargo & Company lowered their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, June 5th. Stifel Nicolaus cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Finally, Barclays reduced their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

Get Our Latest Analysis on SLB

Schlumberger Stock Down 0.6%

Schlumberger stock opened at $35.85 on Friday. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 9.29 and a beta of 1.01. The firm’s fifty day moving average price is $34.50 and its two-hundred day moving average price is $38.17. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLBGet Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. Schlumberger’s dividend payout ratio is presently 38.64%.

Insider Activity at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value 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. This represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now owns 23,525 shares of the company’s stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Schlumberger Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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