Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,923,326 shares of the oil and gas company’s stock after selling 23,236 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Schlumberger were worth $273,691,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Noesis Capital Mangement Corp increased its stake in Schlumberger by 3.3% in the 3rd quarter. Noesis Capital Mangement Corp now owns 75,005 shares of the oil and gas company’s stock valued at $5,232,000 after purchasing an additional 2,365 shares in the last quarter. Heritage Wealth Advisors increased its stake in Schlumberger by 5.6% in the 3rd quarter. Heritage Wealth Advisors now owns 17,533 shares of the oil and gas company’s stock valued at $1,222,000 after purchasing an additional 932 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Schlumberger by 3.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 355,915 shares of the oil and gas company’s stock valued at $24,829,000 after purchasing an additional 13,477 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in Schlumberger by 853.3% in the 3rd quarter. HighPoint Advisor Group LLC now owns 58,787 shares of the oil and gas company’s stock valued at $372,000 after purchasing an additional 52,620 shares in the last quarter. Finally, Comerica Bank increased its stake in Schlumberger by 2.4% in the 3rd quarter. Comerica Bank now owns 644,269 shares of the oil and gas company’s stock valued at $41,303,000 after purchasing an additional 15,155 shares in the last quarter. 79.35% of the stock is owned by institutional investors and hedge funds.
In other news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total transaction of $219,205.00. Following the sale, the director now owns 1,500 shares in the company, valued at $93,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by company insiders.
Schlumberger Limited. (NYSE SLB) opened at $76.42 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $105,861.72, a price-to-earnings ratio of 50.95, a price-to-earnings-growth ratio of 5.85 and a beta of 1.01. Schlumberger Limited. has a 1 year low of $61.02 and a 1 year high of $87.78.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $8.18 billion during the quarter, compared to the consensus estimate of $8.12 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. Schlumberger’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. sell-side analysts forecast that Schlumberger Limited. will post 2.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.62%. Schlumberger’s payout ratio is -183.49%.
Several equities analysts recently weighed in on SLB shares. Piper Jaffray Companies set a $74.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 21st. Goldman Sachs Group downgraded Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective for the company. in a research note on Monday, November 13th. Royal Bank of Canada set a $73.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Thursday, December 21st. Scotiabank set a $80.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 21st. Finally, Deutsche Bank started coverage on Schlumberger in a research note on Tuesday, October 10th. They issued a “buy” rating and a $78.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Schlumberger currently has a consensus rating of “Buy” and a consensus price target of $80.15.
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Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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