Rhumbline Advisers Sells 51,048 Shares of Schlumberger Limited (NYSE:SLB)

Rhumbline Advisers cut its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,373,722 shares of the oil and gas company's stock after selling 51,048 shares during the period. Rhumbline Advisers owned approximately 0.17% of Schlumberger worth $91,008,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in Schlumberger during the 3rd quarter valued at $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $32,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger during the third quarter worth approximately $37,000. Finally, Golden State Wealth Management LLC acquired a new position in Schlumberger in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction 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 sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock worth $11,442,229 over the last ninety days. Company insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SLB. Royal Bank of Canada reissued an "outperform" rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Evercore ISI reissued an "in-line" rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Jefferies Financial Group cut their price objective on Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a "strong-buy" rating in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $55.81.

Schlumberger Stock Down 1.1 %

Shares of NYSE SLB traded down $0.46 during mid-day trading on Wednesday, reaching $42.19. 12,747,474 shares of the company traded hands, compared to its average volume of 14,301,697. The company's fifty day moving average is $40.12 and its two-hundred day moving average is $41.91. 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 $36.52 and a fifty-two week high of $55.69. The stock has a market cap of $59.10 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 9.90 and a beta of 1.51.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly 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. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. On average, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.70%. Schlumberger's payout ratio is currently 36.66%.

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.