Price T Rowe Associates Inc. MD Acquires 5,225,828 Shares of Schlumberger Limited (NYSE:SLB)

Price T Rowe Associates Inc. MD boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,986,195 shares of the oil and gas company's stock after purchasing an additional 5,225,828 shares during the quarter. Price T Rowe Associates Inc. MD owned about 5.42% of Schlumberger worth $2,913,312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bard Financial Services Inc. bought a new position in Schlumberger during the third quarter worth $229,000. SkyView Investment Advisors LLC boosted its position in shares of Schlumberger by 5.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 16,965 shares of the oil and gas company's stock worth $712,000 after purchasing an additional 936 shares in the last quarter. Sfmg LLC boosted its position in shares of Schlumberger by 4.1% during the 3rd quarter. Sfmg LLC now owns 88,398 shares of the oil and gas company's stock worth $3,708,000 after purchasing an additional 3,478 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock valued at $3,223,000 after buying an additional 16,350 shares during the period. Finally, PVG Asset Management Corp bought a new stake in Schlumberger in the 3rd quarter valued at about $386,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. 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. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Finally, Susquehanna lowered their target price on shares of Schlumberger from $55.00 to $48.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $54.15.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $34.60 on Wednesday. The company has a market capitalization of $47.05 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The company's 50-day moving average is $39.06 and its 200 day moving average is $40.60. 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 fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Insider Buying and Selling at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now owns 30,829 shares of the company's stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,647 shares of company stock worth $4,876,679 over the last three months. 0.26% of the stock is currently owned by insiders.

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.

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