Chevy Chase Trust Holdings LLC Buys 86,093 Shares of Schlumberger Limited (NYSE:SLB)

Chevy Chase Trust Holdings LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 3.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,426,021 shares of the oil and gas company’s stock after purchasing an additional 86,093 shares during the period. Chevy Chase Trust Holdings LLC owned 0.18% of Schlumberger worth $101,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. TCW Group Inc. grew its stake in Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after purchasing an additional 259 shares in the last quarter. Vident Advisory LLC grew its stake in Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after purchasing an additional 273 shares in the last quarter. Glen Eagle Advisors LLC grew its stake in Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 282 shares in the last quarter. Heritage Wealth Management Inc. Texas grew its stake in Schlumberger by 2.2% in the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 318 shares in the last quarter. Finally, Wahed Invest LLC grew its stake in Schlumberger by 0.9% in the fourth quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company’s stock worth $1,343,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 5.8%

Shares of NYSE SLB opened at $33.76 on Tuesday. The company has a market capitalization of $45.92 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 9.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The business has a 50-day moving average of $34.54 and a two-hundred day moving average of $38.00. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is currently 38.64%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLB. Stifel Nicolaus dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company dropped their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Barclays cut their price target on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Jefferies Financial Group cut their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Finally, Morgan Stanley cut their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Schlumberger 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.