Moreno Evelyn V increased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,420 shares of the oil and gas company’s stock after acquiring an additional 735 shares during the period. Moreno Evelyn V’s holdings in Schlumberger were worth $3,434,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Quad Cities Investment Group LLC acquired a new stake in shares of Schlumberger during the second quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Schlumberger in the 2nd quarter worth $32,000. Meridian Wealth Management LLC bought a new stake in shares of Schlumberger in the 1st quarter worth $38,000. Lenox Wealth Management Inc. raised its stake 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 buying an additional 256 shares in the last quarter. Finally, Acima Private Wealth LLC raised its stake in shares of Schlumberger by 141.9% in the 1st quarter. Acima Private Wealth LLC now owns 924 shares of the oil and gas company’s stock worth $40,000 after buying an additional 542 shares in the last quarter. 77.22% of the stock is currently owned by hedge funds and other institutional investors.
In other Schlumberger news, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the sale, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the sale, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
SLB has been the topic of a number of recent research reports. Bank of America restated a “buy” rating and issued a $51.00 target price (down from $60.00) on shares of Schlumberger in a report on Tuesday, June 25th. Piper Jaffray Companies set a $40.00 price target on Schlumberger and gave the company a “buy” rating in a report on Monday, July 1st. Raymond James reiterated a “hold” rating on shares of Schlumberger in a report on Friday, June 21st. Royal Bank of Canada lowered their price target on Schlumberger to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Finally, Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. Schlumberger currently has an average rating of “Hold” and an average target price of $52.17.
SLB traded down $0.74 during trading on Thursday, reaching $31.60. 1,057,230 shares of the stock traded hands, compared to its average volume of 10,231,132. The stock has a market cap of $47.40 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.15 and a beta of 1.44. Schlumberger Limited. has a fifty-two week low of $32.20 and a fifty-two week high of $65.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. The firm’s 50-day moving average price is $38.50.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The firm had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts expect that Schlumberger Limited. will post 1.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.33%. Schlumberger’s dividend payout ratio is currently 123.46%.
Schlumberger Company Profile
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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