Laffer Investments cut its holdings in Schlumberger Limited. (NYSE:SLB) by 6.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 36,990 shares of the oil and gas company’s stock after selling 2,605 shares during the period. Laffer Investments’ holdings in Schlumberger were worth $2,580,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of SLB. Harding Loevner LP grew its holdings in shares of Schlumberger by 1,337.3% during the third quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after purchasing an additional 129,289,552 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Schlumberger by 103.9% during the second quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock worth $1,055,136,000 after purchasing an additional 8,167,945 shares during the last quarter. Dodge & Cox grew its holdings in shares of Schlumberger by 12.8% during the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after purchasing an additional 5,494,165 shares during the last quarter. Capital International Investors grew its holdings in shares of Schlumberger by 74.8% during the third quarter. Capital International Investors now owns 10,031,514 shares of the oil and gas company’s stock worth $699,798,000 after buying an additional 4,294,058 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Schlumberger by 33.5% during the second quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock worth $731,990,000 after buying an additional 2,791,675 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.
Shares of Schlumberger Limited. (NYSE SLB) opened at $66.28 on Tuesday. Schlumberger Limited. has a 12-month low of $61.02 and a 12-month high of $82.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 1.21. The stock has a market cap of $91,820.00, a P/E ratio of -60.81, a PEG ratio of 5.08 and a beta of 0.98.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The company had revenue of $8.18 billion during the quarter, compared to the consensus estimate of $8.12 billion. During the same period last year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. sell-side analysts anticipate that Schlumberger Limited. will post 2.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.02%. Schlumberger’s payout ratio is -183.49%.
In related news, insider Howard Guild sold 25,000 shares of Schlumberger stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the completion of the transaction, the insider now directly owns 22,410 shares in the company, valued at approximately $1,753,806.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Simon Ayat sold 75,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total value of $5,914,500.00. Following the transaction, the chief financial officer now owns 138,827 shares of the company’s stock, valued at $10,947,897.22. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on the company. SunTrust Banks raised their price target on Schlumberger from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Susquehanna Bancshares set a $88.00 price target on Schlumberger and gave the stock a “buy” rating in a report on Monday, January 22nd. Zacks Investment Research lowered Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Barclays set a $75.00 price target on Schlumberger and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Finally, Loop Capital reissued a “buy” rating and set a $82.00 price target (up previously from $77.00) on shares of Schlumberger in a report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $82.29.
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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