Argyle Capital Management Inc. lifted its position in Schlumberger Limited. (NYSE:SLB) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,900 shares of the oil and gas company’s stock after buying an additional 2,120 shares during the quarter. Argyle Capital Management Inc.’s holdings in Schlumberger were worth $2,554,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of SLB. Markston International LLC increased its holdings in Schlumberger by 0.8% during the 2nd quarter. Markston International LLC now owns 87,196 shares of the oil and gas company’s stock worth $5,741,000 after purchasing an additional 704 shares during the period. Willingdon Wealth Management increased its holdings in Schlumberger by 2.2% during the 2nd quarter. Willingdon Wealth Management now owns 23,699 shares of the oil and gas company’s stock worth $1,560,000 after purchasing an additional 520 shares during the period. Andra AP fonden increased its holdings in Schlumberger by 67.3% during the 2nd quarter. Andra AP fonden now owns 60,400 shares of the oil and gas company’s stock worth $3,977,000 after purchasing an additional 24,300 shares during the period. Airain ltd increased its holdings in Schlumberger by 31.7% during the 2nd quarter. Airain ltd now owns 347,051 shares of the oil and gas company’s stock worth $22,850,000 after purchasing an additional 83,581 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Schlumberger by 18.0% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 342,438 shares of the oil and gas company’s stock worth $22,546,000 after purchasing an additional 52,350 shares during the period. Institutional investors own 80.01% of the company’s stock.
In other Schlumberger news, CFO Simon Ayat sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the completion of the sale, the chief financial officer now directly owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Guild sold 25,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the sale, the insider now directly owns 22,410 shares of the company’s stock, valued at $1,753,806.60. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The company had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. research analysts anticipate that Schlumberger Limited. will post 2.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a yield of 2.94%. Schlumberger’s payout ratio is -175.44%.
A number of research analysts have recently commented on the company. SunTrust Banks increased their price objective on Schlumberger from $72.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Susquehanna Bancshares set a $88.00 price objective on Schlumberger and gave the company a “buy” rating in a report on Monday, January 22nd. Zacks Investment Research downgraded Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Barclays set a $75.00 price objective on Schlumberger and gave the company a “hold” rating in a report on Tuesday, January 23rd. Finally, Loop Capital reiterated a “buy” rating and issued a $82.00 price objective (up previously from $77.00) on shares of Schlumberger in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $81.59.
Schlumberger Company Profile
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.
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