Zurcher Kantonalbank Zurich Cantonalbank Has $25.32 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 660,451 shares of the oil and gas company's stock after buying an additional 37,447 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Schlumberger were worth $25,322,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on SLB shares. Stifel Nicolaus cut their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Barclays cut their price objective on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 18th. Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Griffin Securities lowered shares of Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group reduced their price objective on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $55.81.

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Schlumberger Price Performance

Shares of SLB opened at $40.09 on Wednesday. The company's 50-day moving average is $40.83 and its 200-day moving average is $41.57. 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 market capitalization of $54.51 billion, a PE ratio of 12.89, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. During the same period in the prior year, the firm earned $0.86 EPS. The business's revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.84%. Schlumberger's payout ratio is 36.66%.

Insiders Place Their Bets

In related news, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was 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. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares of the company's stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last quarter. 0.26% of the stock is currently owned by corporate 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.

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