Commerce Bank Sells 11,898 Shares of Schlumberger Limited (NYSE:SLB)

Commerce Bank decreased its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,707 shares of the oil and gas company's stock after selling 11,898 shares during the period. Commerce Bank's holdings in Schlumberger were worth $2,021,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. Norges Bank acquired a new position in shares of Schlumberger during the fourth quarter worth approximately $735,398,000. Pacer Advisors Inc. raised its stake in Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after acquiring an additional 12,938,082 shares in the last quarter. Clearbridge Investments LLC boosted its position in Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after acquiring an additional 2,646,653 shares during the period. Franklin Resources Inc. grew its stake 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 worth $590,320,000 after purchasing an additional 1,700,203 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of 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 purchasing an additional 1,533,366 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 1.1 %

Schlumberger stock traded down $0.40 during midday trading on Friday, reaching $34.53. The stock had a trading volume of 23,935,960 shares, compared to its average volume of 13,171,322. The firm's fifty day simple moving average is $38.77 and its two-hundred day simple moving average is $40.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The firm has a market cap of $46.96 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The business had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. During the same quarter in the prior year, the firm posted $0.75 EPS. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction on 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 transaction, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. The trade was a 22.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction 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 sale, the insider now owns 30,829 shares of the company's stock, 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. Insiders have sold 117,647 shares of company stock worth $4,876,679 in the last 90 days. Company insiders own 0.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen increased their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Stifel Nicolaus cut their target price on Schlumberger from $59.00 to $58.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Barclays decreased their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Evercore ISI reissued an "in-line" rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Five research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $53.85.

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.