Schlumberger Limited (NYSE:SLB) Shares Purchased by Field & Main Bank

Field & Main Bank boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 48.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,050 shares of the oil and gas company’s stock after purchasing an additional 1,325 shares during the period. Field & Main Bank’s holdings in Schlumberger were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after buying an additional 1,412,821 shares during the last quarter. FMR LLC increased its holdings in shares of Schlumberger by 1.1% in the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after purchasing an additional 282,709 shares during the period. Morgan Stanley raised its stake in shares of Schlumberger by 1.9% in the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after purchasing an additional 292,817 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Schlumberger by 30.5% during the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after purchasing an additional 1,954,620 shares during the period. Finally, Sanders Capital LLC boosted its position in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after buying an additional 2,085,506 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Bank of America decreased their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. BMO Capital Markets decreased their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $68.72.

Schlumberger Price Performance

Shares of NYSE:SLB traded up $0.01 during trading on Monday, reaching $49.21. The stock had a trading volume of 9,211,325 shares, compared to its average volume of 11,160,987. The business has a fifty day moving average price of $51.75 and a 200-day moving average price of $52.02. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The stock has a market cap of $70.34 billion, a PE ratio of 16.35, a PEG ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.24%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders have sold a total of 76,295 shares of company stock worth $3,707,595 in the last ninety days. Insiders own 0.26% of the company’s stock.

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.