Highland Capital Management LLC boosted its position in Schlumberger Limited. (NYSE:SLB) by 105.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,456 shares of the oil and gas company’s stock after acquiring an additional 73,565 shares during the period. Highland Capital Management LLC’s holdings in Schlumberger were worth $9,667,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Aviance Capital Management LLC acquired a new position in Schlumberger in the second quarter valued at about $100,000. FNY Partners Fund LP acquired a new position in Schlumberger in the fourth quarter valued at about $101,000. Mountain Capital Investment Advisors Inc acquired a new position in Schlumberger in the second quarter valued at about $107,000. Jacobi Capital Management LLC lifted its stake in Schlumberger by 95.8% in the second quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 1,000 shares during the period. Finally, Atlantic Trust LLC acquired a new position in Schlumberger in the second quarter valued at about $137,000. Institutional investors and hedge funds own 80.01% of the company’s stock.
Schlumberger Limited. (NYSE SLB) opened at $67.14 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $93,010.00, a PE ratio of -58.89, a P/E/G ratio of 5.30 and a beta of 1.03. Schlumberger Limited. has a fifty-two week low of $61.02 and a fifty-two week high of $80.89.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Wednesday, February 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.98%. Schlumberger’s payout ratio is presently -175.44%.
SLB has been the topic of several analyst reports. Royal Bank of Canada set a $73.00 target price on Schlumberger and gave the company a “buy” rating in a research note on Thursday, December 21st. ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. B. Riley set a $80.00 target price on Schlumberger and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Jefferies Group set a $78.00 target price on Schlumberger and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, Cowen set a $85.00 target price on Schlumberger and gave the company a “buy” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger presently has a consensus rating of “Buy” and an average target price of $81.59.
In other Schlumberger news, insider Howard Guild sold 25,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 22,410 shares in the company, valued at $1,753,806.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Simon Ayat sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the transaction, the chief financial officer now owns 138,827 shares of the company’s stock, valued at $10,947,897.22. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
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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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