Cibc World Market Inc. Sells 6,984 Shares of Schlumberger Limited (NYSE:SLB)

Cibc World Market Inc. trimmed its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 311,134 shares of the oil and gas company's stock after selling 6,984 shares during the quarter. Cibc World Market Inc.'s holdings in Schlumberger were worth $11,929,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SLB. State Street Corp grew its holdings in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock worth $3,808,476,000 after buying an additional 528,279 shares in the last quarter. Geode Capital Management LLC grew its stake in Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock valued at $1,195,290,000 after acquiring an additional 239,966 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company's stock worth $335,214,000 after purchasing an additional 31,718 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Citigroup lifted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Finally, Bank of America dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

Schlumberger Trading Down 2.0 %

NYSE:SLB traded down $0.81 on Friday, reaching $40.21. 13,101,326 shares of the company's stock were exchanged, compared to its average volume of 14,117,565. The firm has a market capitalization of $56.32 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $40.49 and a 200-day moving average of $42.54.

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, beating analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the company earned $0.86 EPS. Schlumberger's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is currently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares of the company's stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock worth $11,442,229 over the last 90 days. Corporate insiders own 0.26% of the company's stock.

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.