State of Tennessee Department of Treasury Acquires 56,956 Shares of Schlumberger Limited (NYSE:SLB)

State of Tennessee Department of Treasury increased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 744,076 shares of the oil and gas company's stock after buying an additional 56,956 shares during the period. State of Tennessee Department of Treasury owned 0.05% of Schlumberger worth $28,528,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SLB. YANKCOM Partnership purchased a new position in shares of Schlumberger in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger in the 4th quarter worth about $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger during the 4th quarter valued at about $34,000. Hager Investment Management Services LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at about $38,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after buying an additional 844 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Wells Fargo & Company raised shares of Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Susquehanna decreased their target price on Schlumberger from $55.00 to $48.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Finally, Jefferies Financial Group dropped their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.85.

Schlumberger Trading Down 1.1 %

Shares of SLB stock traded down $0.40 during mid-day trading on Friday, reaching $34.53. The stock had a trading volume of 23,935,960 shares, compared to its average volume of 13,171,322. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock's 50-day moving average price is $38.77 and its two-hundred day moving average price is $40.48. The firm has a market capitalization of $46.96 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly 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 $0.74 by ($0.02). The business had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,647 shares of company stock valued at $4,876,679 over the last quarter. 0.26% of the stock is owned by company insiders.

About Schlumberger

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.