Watch Point Trust Co lifted its position in Schlumberger Limited. (NYSE:SLB) by 21.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,714 shares of the oil and gas company’s stock after buying an additional 11,040 shares during the period. Watch Point Trust Co’s holdings in Schlumberger were worth $2,452,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of SLB. Geode Capital Management LLC increased its position in Schlumberger by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after buying an additional 1,125,484 shares during the last quarter. Capital Investment Advisors LLC grew its position in shares of Schlumberger by 9.1% in the first quarter. Capital Investment Advisors LLC now owns 14,429 shares of the oil and gas company’s stock valued at $629,000 after purchasing an additional 1,201 shares during the last quarter. Buckley Wealth Management LLC grew its position in shares of Schlumberger by 25.5% in the first quarter. Buckley Wealth Management LLC now owns 10,101 shares of the oil and gas company’s stock valued at $440,000 after purchasing an additional 2,051 shares during the last quarter. Lincoln Capital Corp grew its position in shares of Schlumberger by 4.7% in the first quarter. Lincoln Capital Corp now owns 33,749 shares of the oil and gas company’s stock valued at $1,470,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Cardinal Capital Management grew its position in shares of Schlumberger by 672.7% in the first quarter. Cardinal Capital Management now owns 50,589 shares of the oil and gas company’s stock valued at $2,204,000 after purchasing an additional 44,042 shares during the last quarter. Hedge funds and other institutional investors own 77.22% of the company’s stock.
In other news, insider Stephanie Cox sold 24,057 shares of the stock in a transaction on 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 transaction, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
SLB has been the topic of several research reports. AltaCorp Capital reaffirmed an “outperform” rating on shares of Schlumberger in a research report on Thursday, June 20th. Royal Bank of Canada decreased their target price on Schlumberger to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Bank of America reaffirmed a “buy” rating and issued a $51.00 target price (down previously from $60.00) on shares of Schlumberger in a research report on Tuesday, June 25th. Morgan Stanley set a $51.00 target price on Schlumberger and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $52.17.
Shares of SLB stock traded down $0.79 during trading on Thursday, hitting $31.55. The company had a trading volume of 10,367,258 shares, compared to its average volume of 10,231,132. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The company has a market cap of $47.40 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 2.15 and a beta of 1.44. The stock’s 50-day simple moving average is $38.50. Schlumberger Limited. has a one year low of $32.20 and a one year high of $65.61.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The business had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the previous year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited. will post 1.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.34%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s payout ratio is presently 123.46%.
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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