Pinebridge Investments L.P. Has $6.40 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Pinebridge Investments L.P. trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 166,957 shares of the oil and gas company's stock after selling 11,616 shares during the period. Pinebridge Investments L.P.'s holdings in Schlumberger were worth $6,401,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after buying an additional 5,225,828 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in Schlumberger by 251.9% during the 4th quarter. Dark Forest Capital Management LP now owns 26,363 shares of the oil and gas company's stock worth $1,011,000 after acquiring an additional 18,872 shares during the last quarter. Quantessence Capital LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $1,391,000. Fayez Sarofim & Co increased its stake in shares of Schlumberger by 14.9% in the 4th quarter. Fayez Sarofim & Co now owns 55,118 shares of the oil and gas company's stock valued at $2,113,000 after buying an additional 7,157 shares during the period. Finally, Stifel Financial Corp raised its holdings in Schlumberger by 44.5% during the 4th quarter. Stifel Financial Corp now owns 3,390,077 shares of the oil and gas company's stock worth $129,976,000 after purchasing an additional 1,044,322 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Schlumberger stock traded up $0.04 during mid-day trading on Tuesday, hitting $34.14. 11,246,155 shares of the company's stock traded hands, compared to its average volume of 13,206,144. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $38.45 and a two-hundred day simple moving average of $40.29. 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 cap of $46.43 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business's quarterly revenue was down 2.5% compared to the same quarter last year. On average, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.34%. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SLB shares. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Barclays cut their price objective on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday. Finally, BMO Capital Markets lowered their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average price target of $53.32.

Insider Buying and Selling

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 210,502 shares of the company's stock, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,647 shares of company stock valued at $4,876,679. Insiders own 0.26% of the company's stock.

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.