Audent Global Asset Management LLC Has $1.64 Million Position in Schlumberger Limited (NYSE:SLB)

Audent Global Asset Management LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 1.5% in the first quarter, Holdings Channel reports. The firm owned 39,139 shares of the oil and gas company’s stock after selling 613 shares during the period. Schlumberger accounts for 1.3% of Audent Global Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. Audent Global Asset Management LLC’s holdings in Schlumberger were worth $1,636,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Schlumberger during the fourth quarter worth $735,398,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after buying an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Schlumberger by 3,112.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock worth $139,059,000 after buying an additional 3,514,134 shares during the period. Deutsche Bank AG lifted its position in Schlumberger by 12.2% during the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock worth $101,708,000 after purchasing an additional 2,646,653 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent research reports. UBS Group boosted their price target on Schlumberger from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Jefferies Financial Group cut their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Stifel Nicolaus reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.85.

Insider Activity at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

Shares of SLB stock opened at $35.85 on Thursday. The stock has a market capitalization of $48.76 billion, a PE ratio of 12.15, a PEG ratio of 9.22 and a beta of 1.01. The business’s 50 day simple moving average is $34.50 and its 200 day simple moving average is $37.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94.

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

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio is 38.64%.

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.