Envestnet Asset Management Inc. Raises Holdings in Schlumberger Limited (NYSE:SLB)

Envestnet Asset Management Inc. lifted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,258,554 shares of the oil and gas company's stock after acquiring an additional 131,586 shares during the period. Envestnet Asset Management Inc. owned 0.09% of Schlumberger worth $48,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. MML Investors Services LLC raised its stake in Schlumberger by 21.0% during the third quarter. MML Investors Services LLC now owns 181,655 shares of the oil and gas company's stock worth $7,620,000 after purchasing an additional 31,551 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Schlumberger during the third quarter worth about $232,000. Coldstream Capital Management Inc. lifted its position in shares of Schlumberger by 7.1% during the third quarter. Coldstream Capital Management Inc. now owns 25,203 shares of the oil and gas company's stock worth $1,058,000 after purchasing an additional 1,662 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Schlumberger by 0.9% in the third quarter. Toronto Dominion Bank now owns 716,427 shares of the oil and gas company's stock valued at $30,054,000 after purchasing an additional 6,493 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in Schlumberger by 4.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 24,276 shares of the oil and gas company's stock worth $1,018,000 after buying an additional 1,124 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares of the company's stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,905 shares of company stock worth $13,609,283. Company insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

SLB traded up $0.72 during trading on Wednesday, hitting $34.48. 2,718,194 shares of the stock were exchanged, compared to its average volume of 17,312,711. The firm has a market capitalization of $46.88 billion, a P/E ratio of 11.09, a PEG ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $51.96. The stock has a fifty day moving average price of $39.72 and a two-hundred day moving average price of $40.92. 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 announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. During the same period in the previous year, the company posted $0.86 EPS. The company's quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. Schlumberger's dividend payout ratio is presently 36.66%.

Analyst Upgrades and Downgrades

SLB has been the subject of several research reports. Barclays dropped their price target on shares of Schlumberger from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Stifel Nicolaus cut their target price on shares of Schlumberger from $59.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.15.

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.