Rockland Trust Co. boosted its holdings in Schlumberger Limited. (NYSE:SLB) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 375,513 shares of the oil and gas company’s stock after buying an additional 25,572 shares during the period. Rockland Trust Co.’s holdings in Schlumberger were worth $12,035,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SLB. Bridge Creek Capital Management LLC raised its holdings in Schlumberger by 2.1% in the third quarter. Bridge Creek Capital Management LLC now owns 37,172 shares of the oil and gas company’s stock worth $1,270,000 after purchasing an additional 770 shares during the period. Perpetual Ltd raised its holdings in Schlumberger by 1,878.9% in the third quarter. Perpetual Ltd now owns 188,000 shares of the oil and gas company’s stock worth $6,424,000 after purchasing an additional 178,500 shares during the period. Viking Fund Management LLC raised its holdings in Schlumberger by 16.7% in the third quarter. Viking Fund Management LLC now owns 7,000 shares of the oil and gas company’s stock worth $239,000 after purchasing an additional 1,000 shares during the period. Founders Capital Management raised its holdings in Schlumberger by 36.2% in the third quarter. Founders Capital Management now owns 83,924 shares of the oil and gas company’s stock worth $2,868,000 after purchasing an additional 22,295 shares during the period. Finally, Hexavest Inc. raised its holdings in Schlumberger by 71.2% in the third quarter. Hexavest Inc. now owns 6,281 shares of the oil and gas company’s stock worth $215,000 after purchasing an additional 2,612 shares during the period. Institutional investors and hedge funds own 76.66% of the company’s stock.
Several equities research analysts have weighed in on the stock. Citigroup cut their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Raymond James reiterated a “hold” rating on shares of Schlumberger in a report on Friday, June 21st. Bank of America cut their target price on shares of Schlumberger from $51.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. AltaCorp Capital reiterated an “outperform” rating on shares of Schlumberger in a report on Thursday, June 20th. Finally, Morgan Stanley cut their target price on shares of Schlumberger from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $49.39.
In related news, EVP Patrick Schorn sold 12,151 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the transaction, 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 corporate insiders.
Shares of SLB stock traded up $1.47 during trading hours on Friday, hitting $32.54. 3,455,821 shares of the company were exchanged, compared to its average volume of 12,549,562. The business has a 50 day moving average of $34.18 and a two-hundred day moving average of $38.22. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. Schlumberger Limited. has a 52 week low of $30.65 and a 52 week high of $61.19. The company has a market capitalization of $42.47 billion, a PE ratio of 20.09, a PEG ratio of 2.19 and a beta of 1.49.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Schlumberger Limited. will post 1.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is 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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