Independent Investors Inc. trimmed its position in Schlumberger Limited. (NYSE:SLB) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,723 shares of the oil and gas company’s stock after selling 4,100 shares during the quarter. Independent Investors Inc.’s holdings in Schlumberger were worth $1,072,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Schlumberger by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 108,726,647 shares of the oil and gas company’s stock valued at $6,623,627,000 after purchasing an additional 735,605 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Schlumberger by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 108,726,647 shares of the oil and gas company’s stock valued at $6,623,627,000 after purchasing an additional 735,605 shares in the last quarter. Capital International Investors raised its holdings in shares of Schlumberger by 62.5% in the 3rd quarter. Capital International Investors now owns 33,296,194 shares of the oil and gas company’s stock valued at $2,028,404,000 after purchasing an additional 12,810,020 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Schlumberger by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 31,019,971 shares of the oil and gas company’s stock valued at $1,889,738,000 after purchasing an additional 1,558,478 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of Schlumberger by 3.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 19,795,280 shares of the oil and gas company’s stock valued at $1,205,928,000 after buying an additional 576,149 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.
A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Macquarie set a $71.00 target price on shares of Schlumberger and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Wolfe Research assumed coverage on shares of Schlumberger in a research report on Wednesday, October 10th. They issued a “market perform” rating on the stock. Finally, Stephens assumed coverage on shares of Schlumberger in a research report on Friday, October 12th. They issued a “weight” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. Schlumberger currently has an average rating of “Buy” and an average target price of $70.11.
Shares of Schlumberger stock opened at $41.74 on Monday. Schlumberger Limited. has a 1 year low of $34.99 and a 1 year high of $80.35. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The firm has a market cap of $57.11 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 3.27 and a beta of 1.16.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 negative net margin of 2.00% and a positive return on equity of 6.55%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.57 billion. During the same period last year, the firm posted $0.42 EPS. Schlumberger’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts forecast that Schlumberger Limited. will post 1.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 5th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.79%. The ex-dividend date was Tuesday, December 4th. Schlumberger’s payout ratio is currently 133.33%.
In other Schlumberger news, 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 transaction of $3,396,000.00. Following the transaction, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick Schorn acquired 10,000 shares of the stock in a transaction on Thursday, December 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $375,500.00. Following the completion of the transaction, the executive vice president now directly owns 35,000 shares in the company, valued at approximately $1,314,250. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.
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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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