Cadence Bank Purchases 26,272 Shares of Schlumberger Limited (NYSE:SLB)

Cadence Bank boosted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 17.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,823 shares of the oil and gas company's stock after acquiring an additional 26,272 shares during the quarter. Cadence Bank's holdings in Schlumberger were worth $6,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. YANKCOM Partnership bought a new stake in shares of Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at $34,000. Hager Investment Management Services LLC bought a new stake in Schlumberger in the fourth quarter worth approximately $38,000. Finally, Bogart Wealth LLC boosted its stake in Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 844 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.49 during trading on Monday, hitting $34.62. 10,698,257 shares of the company were exchanged, compared to its average volume of 13,051,659. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The stock has a market capitalization of $47.08 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 10.10 and a beta of 1.11. The firm has a 50 day moving average price of $39.35 and a 200 day moving average price of $40.72. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Wall Street Analyst Weigh In

SLB has been the subject of a number of analyst reports. Wells Fargo & Company raised Schlumberger from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. TD Cowen increased their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Susquehanna reduced 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. Finally, Evercore ISI reiterated an "in-line" rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.15.

Insiders Place Their Bets

In other news, VP Ugo Prechner sold 7,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company's stock, valued at $496,808. This trade represents a 38.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Aparna Raman sold 25,133 shares of the business'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 sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 315,905 shares of company stock worth $13,609,283 in the last 90 days. 0.26% of the stock is owned by company insiders.

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.