Norinchukin Bank The Increases Stake in Schlumberger Limited (NYSE:SLB)

Norinchukin Bank The grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 21.5% in the fourth quarter, HoldingsChannel reports. The fund owned 83,374 shares of the oil and gas company’s stock after purchasing an additional 14,760 shares during the quarter. Norinchukin Bank The’s holdings in Schlumberger were worth $3,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock valued at $13,609,283 in the last quarter. 0.26% of the stock is owned by insiders.

Schlumberger Trading Up 2.8 %

Shares of SLB opened at $35.09 on Friday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. 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 company’s fifty day simple moving average is $39.35 and its 200-day simple moving average is $40.75. The company has a market cap of $47.72 billion, a P/E ratio of 11.28, a P/E/G ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. Susquehanna decreased their price target on Schlumberger from $55.00 to $48.00 and set a “positive” rating on the stock in a report on Monday, April 14th. 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 note on Thursday, March 27th. Barclays reduced their price objective on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. TD Cowen boosted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Stifel Nicolaus cut their target price on shares of Schlumberger from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Five 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 has a consensus rating of “Moderate Buy” and a consensus target price of $54.15.

Schlumberger Company 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.