Cascade Investment Advisors Inc. increased its stake in shares of Schlumberger Limited. (NYSE:SLB) by 867.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,620 shares of the oil and gas company’s stock after buying an additional 16,695 shares during the period. Cascade Investment Advisors Inc.’s holdings in Schlumberger were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its position in Schlumberger by 21,872.1% during the first quarter. Fisher Asset Management LLC now owns 5,868,964 shares of the oil and gas company’s stock worth $380,192,000 after acquiring an additional 5,842,253 shares during the last quarter. Summit Trail Advisors LLC raised its position in Schlumberger by 6,833.5% during the first quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock worth $3,457,000 after acquiring an additional 3,407,195 shares during the last quarter. Bank of New York Mellon Corp raised its position in Schlumberger by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock worth $1,974,805,000 after acquiring an additional 2,188,823 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Schlumberger during the first quarter worth about $47,225,000. Finally, Bain Capital Public Equity Management LLC acquired a new position in Schlumberger during the second quarter worth about $45,421,000. 78.43% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Michael E. Marks purchased 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average price of $60.31 per share, with a total value of $482,480.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.
NYSE:SLB 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 company has a market capitalization 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 1-year low of $58.30 and a 1-year 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, 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 analyst estimates of $8.35 billion. During the same quarter in the previous year, the business posted $0.35 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited. will post 1.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 5th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.37%. The ex-dividend date was Tuesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 133.33%.
A number of equities analysts have issued reports on the stock. Tudor Pickering cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Credit Suisse Group lifted their target price on shares of Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Citigroup cut their price objective on shares of Schlumberger from $79.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, June 25th. Finally, Jefferies Financial Group set a $80.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 23rd. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $78.90.
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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