Baldwin Investment Management LLC increased its position in shares of Schlumberger Limited. (NYSE:SLB) by 32.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,265 shares of the oil and gas company’s stock after purchasing an additional 5,175 shares during the period. Baldwin Investment Management LLC’s holdings in Schlumberger were worth $1,425,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of SLB. Barings LLC boosted its stake in Schlumberger by 365.6% in the second quarter. Barings LLC now owns 325,428 shares of the oil and gas company’s stock valued at $21,813,000 after acquiring an additional 255,539 shares in the last quarter. Intrust Bank NA boosted its stake in Schlumberger by 10.2% in the second quarter. Intrust Bank NA now owns 18,356 shares of the oil and gas company’s stock valued at $1,231,000 after acquiring an additional 1,696 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Schlumberger in the second quarter valued at $13,121,000. CIBC World Markets Inc. boosted its stake in Schlumberger by 50.0% in the second quarter. CIBC World Markets Inc. now owns 67,164 shares of the oil and gas company’s stock valued at $4,502,000 after acquiring an additional 22,393 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Schlumberger by 214.6% in the second quarter. Private Advisor Group LLC now owns 28,977 shares of the oil and gas company’s stock valued at $1,903,000 after acquiring an additional 19,765 shares in the last quarter. Hedge funds and other institutional investors own 78.45% of the company’s stock.
Several equities analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Schlumberger in a research note on Monday. They issued a “hold” rating and a $69.00 price objective for the company. ValuEngine downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Jefferies Financial Group set a $80.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Seaport Global Securities set a $72.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Citigroup decreased their price objective on shares of Schlumberger from $78.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $79.57.
In other news, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average cost of $60.31 per share, with a total value of $482,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.
Shares of NYSE:SLB opened at $61.02 on Friday. Schlumberger Limited. has a one year low of $59.25 and a one year high of $80.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.85. The stock has a market capitalization of $83.49 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 5.48 and a beta of 0.96.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 20th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The business had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. sell-side analysts predict that Schlumberger Limited. will post 1.83 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Wednesday, September 5th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.00 annualized dividend and a yield of 3.28%. Schlumberger’s dividend payout ratio is currently 133.33%.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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