Alliancebernstein L.P. Buys 43,109 Shares of Schlumberger Limited (NYSE:SLB)

Alliancebernstein L.P. raised its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,445,746 shares of the oil and gas company's stock after buying an additional 43,109 shares during the period. Alliancebernstein L.P. owned about 0.53% of Schlumberger worth $285,470,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky increased its stake in Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock valued at $3,223,000 after purchasing an additional 16,350 shares during the last quarter. Bryn Mawr Capital Management LLC grew its stake in Schlumberger by 502.6% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock valued at $7,592,000 after purchasing an additional 165,162 shares in the last quarter. Narwhal Capital Management increased its position in Schlumberger by 225.5% in the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company's stock worth $2,862,000 after purchasing an additional 51,715 shares during the last quarter. Finally, Czech National Bank raised its stake in shares of Schlumberger by 5.8% during the 4th quarter. Czech National Bank now owns 306,183 shares of the oil and gas company's stock worth $11,739,000 after purchasing an additional 16,914 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently commented on the company. Griffin Securities cut Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. TD Cowen raised their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Jefferies Financial Group lowered their target price 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. Finally, Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Six equities research 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.69.

Schlumberger Stock Performance

Schlumberger stock traded up $0.03 on Wednesday, hitting $42.23. The company's stock had a trading volume of 16,496,123 shares, compared to its average volume of 12,220,085. The company has a fifty day moving average price of $41.23 and a 200-day moving average price of $41.50. The firm has a market cap of $57.43 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.65. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.70%. Schlumberger's payout ratio is currently 36.66%.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares of the company's stock, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock worth $13,609,283 over the last three months. Company 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.