Bedrijfstakpensioenfonds Voor DE Media PNO decreased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 17.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 104,500 shares of the oil and gas company’s stock after selling 22,500 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO’s holdings in Schlumberger were worth $6,366,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Capital Investment Advisors LLC lifted its holdings in Schlumberger by 5.3% in the second quarter. Capital Investment Advisors LLC now owns 14,461 shares of the oil and gas company’s stock valued at $969,000 after acquiring an additional 733 shares during the period. Portland Global Advisors LLC lifted its holdings in Schlumberger by 2.8% in the second quarter. Portland Global Advisors LLC now owns 28,240 shares of the oil and gas company’s stock valued at $1,893,000 after acquiring an additional 770 shares during the period. First Merchants Corp lifted its holdings in Schlumberger by 1.4% in the second quarter. First Merchants Corp now owns 54,946 shares of the oil and gas company’s stock valued at $3,683,000 after acquiring an additional 778 shares during the period. Guyasuta Investment Advisors Inc. lifted its holdings in Schlumberger by 0.5% in the second quarter. Guyasuta Investment Advisors Inc. now owns 165,349 shares of the oil and gas company’s stock valued at $11,083,000 after acquiring an additional 809 shares during the period. Finally, Summit Securities Group LLC lifted its holdings in Schlumberger by 22.7% in the second quarter. Summit Securities Group LLC now owns 4,500 shares of the oil and gas company’s stock valued at $302,000 after acquiring an additional 832 shares during the period. Institutional investors and hedge funds own 78.47% of the company’s stock.
Shares of SLB opened at $50.40 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. Schlumberger Limited. has a one year low of $50.00 and a one year high of $80.35. The company has a market cap of $72.12 billion, a P/E ratio of 33.60, a PEG ratio of 5.14 and a beta of 1.03.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts predict that Schlumberger Limited. will post 1.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, December 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.97%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s payout ratio is currently 133.33%.
Several research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Schlumberger in a research note on Monday, September 10th. They set a “hold” rating and a $69.00 target price for the company. Seaport Global Securities set a $72.00 target price on Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. Zacks Investment Research downgraded Schlumberger from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Bank of America assumed coverage on Schlumberger in a research note on Wednesday, October 17th. They set a “buy” rating for the company. Finally, Cowen reduced their target price on Schlumberger from $77.00 to $75.00 and set an “outperform” 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 stock. Schlumberger presently has an average rating of “Buy” and an average target price of $76.84.
In related news, Director Michael E. Marks bought 8,000 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was bought at an average cost of $60.31 per share, for a total transaction 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 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 sale, the chief financial officer now owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
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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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