Cascade Investment Advisors Inc. grew its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 867.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,620 shares of the oil and gas company’s stock after purchasing an additional 16,695 shares during the period. Cascade Investment Advisors Inc.’s holdings in Schlumberger were worth $1,134,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisors LLC boosted its stake in shares of 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 purchasing an additional 733 shares during the period. IHT Wealth Management LLC boosted its stake in Schlumberger by 11.0% during the 1st quarter. IHT Wealth Management LLC now owns 7,588 shares of the oil and gas company’s stock valued at $482,000 after acquiring an additional 751 shares during the last quarter. Portland Global Advisors LLC boosted its stake in Schlumberger by 2.8% during the 2nd 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 last quarter. First Merchants Corp boosted its stake in Schlumberger by 1.4% during the 2nd 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 last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its stake in Schlumberger by 0.5% during the 2nd 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 last quarter. Institutional investors own 78.43% of the company’s stock.
A number of research analysts have commented on SLB shares. Stifel Nicolaus started coverage on shares of Schlumberger in a research note on Monday, September 10th. They set a “hold” rating and a $69.00 price objective on the stock. Seaport Global Securities set a $72.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Citigroup reduced their price objective on shares of Schlumberger from $78.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, July 23rd. Morgan Stanley started coverage on shares of Schlumberger in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $72.00 price objective on the stock. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $80.00 price objective on shares of Schlumberger in a research note on Monday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $78.90.
In other Schlumberger news, Director Michael E. Marks bought 8,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were bought at an average cost of $60.31 per share, with a total value of $482,480.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate insiders.
Shares of NYSE:SLB opened at $59.33 on Friday. The firm has a market cap of $84.32 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 5.68 and a beta of 0.93. Schlumberger Limited. has a 1-year low of $58.30 and a 1-year high of $80.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.12.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, equities research analysts anticipate that Schlumberger Limited. will post 1.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 5th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.37%. Schlumberger’s dividend payout ratio (DPR) is 133.33%.
Schlumberger Company Profile
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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