Rockland Trust Co. Buys 10,748 Shares of Schlumberger Limited (NYSE:SLB)

Rockland Trust Co. increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 330,129 shares of the oil and gas company’s stock after acquiring an additional 10,748 shares during the quarter. Rockland Trust Co.’s holdings in Schlumberger were worth $12,657,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its holdings in shares of Schlumberger by 50.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 6,133 shares of the oil and gas company’s stock valued at $289,000 after acquiring an additional 2,063 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Schlumberger by 10.4% during the second quarter. Envestnet Asset Management Inc. now owns 927,875 shares of the oil and gas company’s stock worth $43,777,000 after buying an additional 87,236 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Schlumberger by 40.4% in the second quarter. Brown Brothers Harriman & Co. now owns 17,990 shares of the oil and gas company’s stock valued at $849,000 after buying an additional 5,179 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Schlumberger by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after buying an additional 915,705 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its holdings in shares of Schlumberger by 21.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 11,847 shares of the oil and gas company’s stock worth $559,000 after acquiring an additional 2,061 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 0.3 %

NYSE:SLB opened at $39.95 on Wednesday. The company has a market cap of $56.42 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock’s fifty day moving average price is $40.95 and its two-hundred day moving average price is $42.95.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. As a group, analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.75%. The ex-dividend date was Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group cut their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Evercore ISI lowered their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $57.58.

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.