Gradient Investments LLC boosted its stake in Schlumberger Limited. (NYSE:SLB) by 7.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,287 shares of the oil and gas company’s stock after purchasing an additional 9,695 shares during the quarter. Gradient Investments LLC’s holdings in Schlumberger were worth $8,668,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its stake in Schlumberger by 57.6% in the first quarter. SRS Capital Advisors Inc. now owns 2,323 shares of the oil and gas company’s stock valued at $150,000 after acquiring an additional 849 shares during the period. Squar Milner Financial Services LLC acquired a new position in Schlumberger in the second quarter valued at about $157,000. McKinley Carter Wealth Services Inc. acquired a new position in Schlumberger in the first quarter valued at about $154,000. FNY Investment Advisers LLC acquired a new position in Schlumberger in the second quarter valued at about $182,000. Finally, Rational Advisors LLC grew its stake in Schlumberger by 80.9% in the first quarter. Rational Advisors LLC now owns 2,895 shares of the oil and gas company’s stock valued at $187,000 after acquiring an additional 1,295 shares during the period. Institutional investors and hedge funds own 78.43% of the company’s stock.
In other news, Director Michael E. Marks acquired 8,000 shares of Schlumberger stock in a transaction dated Thursday, September 6th. The stock was bought at an average cost of $60.31 per share, with a total value of $482,480.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on SLB shares. Stifel Nicolaus started coverage on Schlumberger in a research note on Monday, September 10th. They issued a “hold” rating and a $69.00 target price for the company. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Morgan Stanley started coverage on Schlumberger in a research note on Tuesday, September 18th. They issued an “equal weight” rating and a $72.00 target price for the company. Jefferies Financial Group decreased their target price on Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, September 26th. Finally, Credit Suisse Group boosted their target price on Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Schlumberger currently has a consensus rating of “Buy” and an average target price of $78.90.
SLB stock opened at $59.33 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock 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 Limited. has a fifty-two week low of $58.30 and a fifty-two week high of $80.35.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. Schlumberger’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, equities research analysts anticipate that Schlumberger Limited. will post 1.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Wednesday, September 5th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $2.00 annualized dividend and a dividend yield of 3.37%. Schlumberger’s dividend payout ratio is currently 133.33%.
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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