Allred Capital Management LLC Takes Position in Schlumberger Limited (NYSE:SLB)

Allred Capital Management LLC purchased a new position in Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,501 shares of the oil and gas company's stock, valued at approximately $633,000.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Schlumberger during the 4th quarter valued at $735,398,000. Pacer Advisors Inc. increased its position in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after buying an additional 12,938,082 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Schlumberger by 43,028.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after buying an additional 2,646,653 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Schlumberger by 12.4% in the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock valued at $590,320,000 after acquiring an additional 1,700,203 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Schlumberger by 196.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company's stock valued at $88,654,000 after buying an additional 1,533,366 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Trading Down 2.0 %

Shares of NYSE SLB traded down $0.68 during midday trading on Wednesday, hitting $33.93. 9,305,719 shares of the company traded hands, compared to its average volume of 13,070,353. The firm has a market cap of $46.14 billion, a P/E ratio of 10.91, a P/E/G ratio of 10.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a 50-day moving average price of $39.06 and a 200 day moving average price of $40.60. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94.

Insiders Place Their Bets

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,647 shares of company stock worth $4,876,679. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI reissued an "in-line" rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. 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. BMO Capital Markets reduced their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, Susquehanna dropped their target price on Schlumberger from $55.00 to $48.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.15.

About Schlumberger

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.