Blume Capital Management Inc. trimmed its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 11.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,608 shares of the oil and gas company’s stock after selling 12,350 shares during the period. Schlumberger accounts for approximately 3.1% of Blume Capital Management Inc.’s holdings, making the stock its 12th largest holding. Blume Capital Management Inc.’s holdings in Schlumberger were worth $6,007,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Mainstay Capital Management LLC ADV increased its stake in shares of Schlumberger by 3,884.1% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 6,603 shares during the period. Zions Bancorporation acquired a new stake in shares of Schlumberger in the 3rd quarter valued at $131,000. Truvestments Capital LLC acquired a new stake in shares of Schlumberger in the 3rd quarter valued at $132,000. Moneta Group Investment Advisors LLC increased its stake in shares of Schlumberger by 909.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 20,137 shares during the period. Finally, Squar Milner Financial Services LLC acquired a new stake in shares of Schlumberger in the 2nd quarter valued at $157,000. 78.47% of the stock is owned by hedge funds and other institutional investors.
NYSE:SLB opened at $50.40 on Friday. Schlumberger Limited. has a 12-month low of $50.00 and a 12-month high of $80.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market capitalization of $72.12 billion, a PE ratio of 33.60, a P/E/G ratio of 5.14 and a beta of 1.03.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.57 billion. During the same period last year, the company earned $0.42 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Analysts forecast that Schlumberger Limited. will post 1.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, December 5th will be given a $0.50 dividend. 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%.
Several equities research analysts have recently commented on the company. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Zacks Investment Research cut Schlumberger from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Credit Suisse Group lowered their target price on Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a research note on Monday, October 22nd. UBS Group lowered their target price on Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Finally, Citigroup lowered their target price on Schlumberger from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Schlumberger currently has an average rating of “Buy” and a consensus target price of $76.84.
In related news, Director Michael E. Marks purchased 8,000 shares of Schlumberger stock in a transaction dated Thursday, September 6th. The shares were acquired at an average cost of $60.31 per share, for a total transaction of $482,480.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Simon Ayat sold 60,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 234,008 shares in the company, valued at $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
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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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