Grisanti Capital Management LLC increased its stake in shares of Schlumberger Limited. (NYSE:SLB) by 80.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,654 shares of the oil and gas company’s stock after purchasing an additional 74,192 shares during the period. Schlumberger makes up approximately 5.0% of Grisanti Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Grisanti Capital Management LLC’s holdings in Schlumberger were worth $10,152,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in SLB. Bank of New York Mellon Corp grew its stake in Schlumberger by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after acquiring an additional 2,188,823 shares during the period. Fisher Asset Management LLC grew its stake in Schlumberger by 6.2% in the third quarter. Fisher Asset Management LLC now owns 6,576,688 shares of the oil and gas company’s stock valued at $400,652,000 after acquiring an additional 385,816 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Schlumberger by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,720,875 shares of the oil and gas company’s stock valued at $383,471,000 after acquiring an additional 164,182 shares during the period. Swiss National Bank grew its stake in Schlumberger by 2.8% in the second quarter. Swiss National Bank now owns 4,950,935 shares of the oil and gas company’s stock valued at $331,861,000 after acquiring an additional 133,900 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Schlumberger by 5.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,578,037 shares of the oil and gas company’s stock valued at $306,866,000 after acquiring an additional 222,573 shares during the period. 78.47% of the stock is owned by institutional investors and hedge funds.
In related news, Director Michael E. Marks bought 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average price of $60.31 per share, for a total transaction of $482,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total value of $3,396,000.00. Following the sale, the chief financial officer now owns 234,008 shares in the company, valued at approximately $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on SLB shares. Piper Jaffray Companies reissued a “buy” rating and issued a $80.00 target price on shares of Schlumberger in a research note on Monday, July 23rd. 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. Citigroup decreased their target price on Schlumberger from $78.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, July 23rd. Seaport Global Securities set a $72.00 target price on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Jefferies Financial Group set a $80.00 target price on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $76.84.
SLB stock opened at $50.40 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.38. The stock has a market cap of $72.12 billion, a PE ratio of 33.60, a PEG ratio of 5.14 and a beta of 1.03. Schlumberger Limited. has a fifty-two week low of $50.00 and a fifty-two week high of $80.35.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. Schlumberger’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, equities research analysts anticipate that Schlumberger Limited. will post 1.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, December 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 annualized dividend and a dividend yield of 3.97%. Schlumberger’s dividend payout ratio is currently 133.33%.
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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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