FineMark National Bank & Trust decreased its holdings in Schlumberger Limited. (NYSE:SLB) by 43.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,158 shares of the oil and gas company’s stock after selling 15,449 shares during the quarter. FineMark National Bank & Trust’s holdings in Schlumberger were worth $1,228,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Bank of New York Mellon Corp lifted its stake in shares of Schlumberger by 8.0% in the 2nd 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 purchasing an additional 2,188,823 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Schlumberger by 20.1% in the 3rd quarter. American Century Companies Inc. now owns 10,218,188 shares of the oil and gas company’s stock valued at $622,492,000 after purchasing an additional 1,707,050 shares in the last quarter. Marathon Asset Management LLP acquired a new position in shares of Schlumberger in the 3rd quarter valued at about $64,743,000. Bain Capital Public Equity Management LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at about $45,421,000. Finally, Royal London Asset Management Ltd. acquired a new position in shares of Schlumberger in the 2nd quarter valued at about $39,461,000. 78.47% of the stock is currently owned by institutional investors and hedge funds.
In other Schlumberger news, Director Michael E. Marks bought 8,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were bought 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 SEC, which can be accessed through this link. Also, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the transaction, the chief financial officer now directly owns 234,008 shares in the company, valued at $13,244,852.80. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
SLB has been the topic of several research analyst reports. Jefferies Financial Group set a $80.00 price objective on 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 Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Citigroup reduced their price objective on Schlumberger from $78.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, July 23rd. Credit Suisse Group lifted their price objective on Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Schlumberger in a research note on Monday, July 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. Schlumberger has a consensus rating of “Buy” and an average price target of $76.84.
Schlumberger stock opened at $50.40 on Friday. The company has a market cap of $72.12 billion, a P/E ratio of 33.60, a P/E/G ratio of 5.14 and a beta of 1.03. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. Schlumberger Limited. has a one year low of $50.00 and a one year high of $80.35.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. Sell-side analysts expect that Schlumberger Limited. will post 1.69 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.97%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 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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