State of Tennessee Department of Treasury Has $28.53 Million Holdings in Schlumberger Limited (NYSE:SLB)

State of Tennessee Department of Treasury increased its holdings in Schlumberger Limited (NYSE:SLB) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 744,076 shares of the oil and gas company’s stock after buying an additional 56,956 shares during the period. State of Tennessee Department of Treasury owned 0.05% of Schlumberger worth $28,528,000 as of its most recent filing with the Securities and Exchange Commission.

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

Schlumberger Trading Down 1.4 %

SLB stock opened at $34.62 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The business has a 50 day simple moving average of $39.21 and a two-hundred day simple moving average of $40.65. The company has a market capitalization of $47.08 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 10.10 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Susquehanna cut their target price on shares of Schlumberger from $55.00 to $48.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. 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. Stifel Nicolaus dropped their price target 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. Finally, Wells Fargo & Company raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $54.15.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,647 shares of company stock worth $4,876,679 in the last quarter. 0.26% of the stock is owned by corporate insiders.

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.