CCM Investment Advisers LLC reduced its holdings in Schlumberger Limited. (NYSE:SLB) by 80.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,095 shares of the oil and gas company’s stock after selling 61,466 shares during the period. CCM Investment Advisers LLC’s holdings in Schlumberger were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of SLB. Washington Trust Bank lifted its holdings in shares of Schlumberger by 4.3% in the 1st quarter. Washington Trust Bank now owns 5,719 shares of the oil and gas company’s stock worth $249,000 after acquiring an additional 237 shares during the last quarter. Lenox Wealth Management Inc. lifted its holdings in shares of Schlumberger by 41.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 256 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Schlumberger by 2.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 11,941 shares of the oil and gas company’s stock worth $431,000 after acquiring an additional 278 shares during the last quarter. Monarch Capital Management Inc. lifted its holdings in shares of Schlumberger by 1.3% in the 1st quarter. Monarch Capital Management Inc. now owns 21,414 shares of the oil and gas company’s stock worth $933,000 after acquiring an additional 285 shares during the last quarter. Finally, Security National Trust Co. lifted its holdings in shares of Schlumberger by 3.8% in the 1st quarter. Security National Trust Co. now owns 8,300 shares of the oil and gas company’s stock worth $362,000 after acquiring an additional 300 shares during the last quarter. 77.85% of the stock is owned by institutional investors and hedge funds.
NYSE SLB opened at $37.00 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. The stock has a market cap of $51.25 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31. Schlumberger Limited. has a one year low of $34.99 and a one year high of $70.47.
Schlumberger (NYSE:SLB) last posted its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.82 billion. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. On average, equities research analysts expect that Schlumberger Limited. will post 1.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Tuesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is 123.46%.
SLB has been the subject of several analyst reports. Barclays lowered their target price on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. Tudor Pickering lowered shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price objective for the company. in a report on Monday, April 22nd. SunTrust Banks lifted their price objective on shares of Schlumberger to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Goldman Sachs Group started coverage on shares of Schlumberger in a report on Sunday, March 10th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Jefferies Financial Group lowered shares of Schlumberger from a “buy” rating to a “hold” rating and decreased their price objective for the company from $50.00 to $45.00 in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $55.78.
In other Schlumberger news, CFO Simon Ayat sold 25,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $46.10, for a total transaction of $1,152,500.00. Following the transaction, the chief financial officer now owns 255,971 shares of the company’s stock, valued at approximately $11,800,263.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Juden sold 8,643 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $43.29, for a total transaction of $374,155.47. Following the transaction, the insider now directly owns 70,260 shares in the company, valued at approximately $3,041,555.40. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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