Stockman Wealth Management Inc. increased its position in shares of Schlumberger Limited. (NYSE:SLB) by 12.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,906 shares of the oil and gas company’s stock after buying an additional 3,805 shares during the period. Stockman Wealth Management Inc.’s holdings in Schlumberger were worth $2,126,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Zions Bancorporation acquired a new stake in shares of Schlumberger in the third quarter valued at approximately $131,000. Truvestments Capital LLC acquired a new stake in shares of Schlumberger in the third quarter valued at approximately $132,000. Squar Milner Financial Services LLC acquired a new stake in shares of Schlumberger in the second quarter valued at approximately $157,000. Westbourne Investment Advisors Inc. acquired a new stake in shares of Schlumberger in the third quarter valued at approximately $158,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Schlumberger in the second quarter valued at approximately $182,000. Hedge funds and other institutional investors own 78.47% of the company’s stock.
In other news, Director Michael E. Marks purchased 8,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was acquired at an average price of $60.31 per share, for a total transaction of $482,480.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Simon Ayat sold 60,000 shares of the firm’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 transaction, the chief financial officer now owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on SLB shares. Citigroup decreased their price target on Schlumberger from $77.00 to $72.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Morgan Stanley started coverage on Schlumberger in a report on Tuesday, September 18th. They set an “equal weight” rating and a $72.00 price target for the company. Stifel Nicolaus started coverage on Schlumberger in a report on Monday, September 10th. They set a “hold” rating and a $69.00 price target for the company. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, Jefferies Financial Group decreased their price target on Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. Schlumberger presently has an average rating of “Buy” and a consensus target price of $76.84.
Schlumberger stock opened at $50.40 on Friday. Schlumberger Limited. has a one year low of $50.00 and a one year high of $80.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $72.45 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 5.16 and a beta of 1.03.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.57 billion. During the same quarter last year, the company earned $0.42 earnings per share. Schlumberger’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited. will post 1.69 earnings per share for the current year.
The firm 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 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 133.33%.
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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