Norinchukin Bank The Purchases 14,760 Shares of Schlumberger Limited (NYSE:SLB)

Norinchukin Bank The lifted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,374 shares of the oil and gas company's stock after purchasing an additional 14,760 shares during the quarter. Norinchukin Bank The's holdings in Schlumberger were worth $3,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CX Institutional raised its position in shares of Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock worth $398,000 after buying an additional 244 shares in the last quarter. TCW Group Inc. raised its holdings in Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock worth $759,000 after purchasing an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock worth $2,174,000 after purchasing an additional 262 shares during the period. Cromwell Holdings LLC boosted its stake in Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock valued at $167,000 after purchasing an additional 283 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Schlumberger by 2.0% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company's stock valued at $566,000 after buying an additional 293 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SLB shares. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Evercore ISI restated an "in-line" rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Barclays dropped their price target on Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. TD Cowen raised their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus cut their target price on Schlumberger from $59.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $54.15.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was 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 owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm's stock in a transaction dated 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 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. Insiders have sold a total of 117,647 shares of company stock valued at $4,876,679 in the last three months. Insiders own 0.26% of the company's stock.

Schlumberger Stock Down 1.7 %

Shares of NYSE SLB traded down $0.58 during mid-day trading on Wednesday, reaching $34.03. The company had a trading volume of 17,254,317 shares, compared to its average volume of 13,108,171. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The stock's 50 day moving average is $39.06 and its 200-day moving average is $40.60. The stock has a market capitalization of $46.28 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

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.