Courier Capital LLC reduced its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,453 shares of the oil and gas company’s stock after selling 2,845 shares during the quarter. Courier Capital LLC’s holdings in Schlumberger were worth $3,805,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. BTC Capital Management Inc. grew its stake in shares of Schlumberger by 15.4% in the first quarter. BTC Capital Management Inc. now owns 68,259 shares of the oil and gas company’s stock valued at $4,432,000 after buying an additional 9,101 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Schlumberger by 5.3% in the first quarter. Gabelli Funds LLC now owns 577,026 shares of the oil and gas company’s stock valued at $37,380,000 after buying an additional 28,890 shares in the last quarter. Nippon Life Global Investors Americas Inc. grew its stake in shares of Schlumberger by 35.9% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 88,450 shares of the oil and gas company’s stock valued at $5,730,000 after buying an additional 23,380 shares in the last quarter. Smith Salley & Associates grew its stake in shares of Schlumberger by 58.6% in the first quarter. Smith Salley & Associates now owns 106,455 shares of the oil and gas company’s stock valued at $6,895,000 after buying an additional 39,342 shares in the last quarter. Finally, Elmwood Wealth Management Inc. bought a new position in shares of Schlumberger in the first quarter valued at $362,000. 78.43% of the stock is owned by institutional investors.
In other news, Director Michael E. Marks bought 8,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was bought at an average price of $60.31 per share, with a total value of $482,480.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.
SLB opened at $59.33 on Friday. Schlumberger Limited. has a fifty-two week low of $58.30 and a fifty-two week 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 firm has a market cap of $84.32 billion, a PE ratio of 39.55, a PEG ratio of 5.68 and a beta of 0.93.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The company had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger Limited. will post 1.79 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Wednesday, September 5th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 4th. Schlumberger’s dividend payout ratio is currently 133.33%.
Several research firms recently weighed in on SLB. Stephens began coverage on shares of Schlumberger in a research note on Friday. They issued a “weight” rating for the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $80.00 price target on shares of Schlumberger in a report on Monday, July 23rd. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Wolfe Research initiated coverage on Schlumberger in a report on Wednesday. They set a “market perform” rating for the company. Finally, Seaport Global Securities set a $72.00 price target on Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $78.90.
Schlumberger Company Profile
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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