Edge Asset Management Inc. reduced its stake in shares of Schlumberger Limited. (NYSE:SLB) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,370 shares of the company’s stock after selling 20,923 shares during the period. Edge Asset Management Inc.’s holdings in Schlumberger Limited. were worth $27,734,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLB. Smith Asset Management Group LP raised its stake in shares of Schlumberger Limited. by 6.7% in the third quarter. Smith Asset Management Group LP now owns 1,280 shares of the company’s stock valued at $101,000 after buying an additional 80 shares during the last quarter. WealthTrust Arizona LLC increased its position in Schlumberger Limited. by 5.5% in the third quarter. WealthTrust Arizona LLC now owns 1,429 shares of the company’s stock valued at $112,000 after buying an additional 74 shares during the period. Roble Belko & Company Inc increased its position in Schlumberger Limited. by 5.5% in the third quarter. Roble Belko & Company Inc now owns 1,445 shares of the company’s stock valued at $114,000 after buying an additional 75 shares during the period. Cable Hill Partners LLC increased its position in Schlumberger Limited. by 28.3% in the third quarter. Cable Hill Partners LLC now owns 1,411 shares of the company’s stock valued at $115,000 after buying an additional 311 shares during the period. Finally, Jacobus Wealth Management Inc. purchased a new position in Schlumberger Limited. during the third quarter valued at $118,000. 78.66% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Schlumberger Limited. (NYSE:SLB)

Shares of Schlumberger Limited. (NYSE:SLB) opened at 78.92 on Tuesday. The firm’s 50-day moving average price is $80.97 and its 200 day moving average price is $81.41. Schlumberger Limited. has a 1-year low of $71.34 and a 1-year high of $87.84. The firm’s market cap is $109.82 billion.

Schlumberger Limited. (NYSE:SLB) last released its quarterly earnings results on Friday, January 20th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $7.11 billion for the quarter. Schlumberger Limited. had a positive return on equity of 3.81% and a negative net margin of 6.07%. The business’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities research analysts forecast that Schlumberger Limited. will post $1.80 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Wednesday, February 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, February 13th. Schlumberger Limited.’s dividend payout ratio is currently -169.49%.

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SLB has been the topic of several research reports. Vetr upgraded Schlumberger Limited. from a “buy” rating to a “strong-buy” rating and set a $94.95 target price on the stock in a research report on Monday, January 30th. Evercore ISI restated a “buy” rating and issued a $99.00 target price on shares of Schlumberger Limited. in a research report on Tuesday, January 31st. Zacks Investment Research downgraded Schlumberger Limited. from a “hold” rating to a “sell” rating in a research report on Tuesday, January 31st. FBR & Co raised their target price on Schlumberger Limited. from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Finally, Deutsche Bank AG set a $101.00 target price on Schlumberger Limited. and gave the company a “buy” rating in a research report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $96.04.

In related news, Director Tore I. Sandvold sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $81.54, for a total value of $407,700.00. Following the sale, the director now owns 7,750 shares in the company, valued at approximately $631,935. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ashok Belani sold 46,577 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $85.50, for a total value of $3,982,333.50. Following the completion of the sale, the executive vice president now owns 125,642 shares in the company, valued at approximately $10,742,391. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

About Schlumberger Limited.

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

5 Day Chart for NYSE:SLB

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