Fifth Third Bancorp reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 15.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 230,866 shares of the oil and gas company’s stock after selling 40,867 shares during the period. Fifth Third Bancorp’s holdings in Schlumberger were worth $3,592,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of SLB. Point72 Asset Management L.P. boosted its position in shares of Schlumberger by 344.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,018,364 shares of the oil and gas company’s stock valued at $73,898,000 after acquiring an additional 3,114,896 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Schlumberger during the 3rd quarter valued at about $46,560,000. FMR LLC boosted its position in shares of Schlumberger by 70.1% during the 2nd quarter. FMR LLC now owns 5,929,107 shares of the oil and gas company’s stock valued at $108,990,000 after acquiring an additional 2,443,204 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Schlumberger during the 2nd quarter valued at about $42,276,000. Finally, APG Asset Management N.V. boosted its position in shares of Schlumberger by 188.8% during the 2nd quarter. APG Asset Management N.V. now owns 2,721,248 shares of the oil and gas company’s stock valued at $44,557,000 after acquiring an additional 1,779,085 shares in the last quarter. Institutional investors and hedge funds own 72.50% of the company’s stock.
In other news, CEO Peuch Olivier Le bought 25,000 shares of the stock in a transaction on Monday, September 14th. The stock was purchased at an average price of $17.95 per share, with a total value of $448,750.00. Following the completion of the purchase, the chief executive officer now owns 191,770 shares of the company’s stock, valued at $3,442,271.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.
SLB opened at $20.21 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market cap of $28.13 billion, a price-to-earnings ratio of -2.66, a price-to-earnings-growth ratio of 3.73 and a beta of 2.12. The firm has a 50 day simple moving average of $16.18 and a 200 day simple moving average of $17.97. Schlumberger Limited has a fifty-two week low of $11.87 and a fifty-two week high of $41.14.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 16th. The oil and gas company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. Schlumberger had a negative net margin of 40.15% and a positive return on equity of 7.34%. The business had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. Schlumberger’s revenue for the quarter was down 38.4% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 0.63 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Wednesday, December 2nd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, December 1st. Schlumberger’s payout ratio is presently 34.01%.
A number of equities analysts have commented on the stock. Scotiabank boosted their price target on shares of Schlumberger from $21.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Monday, October 19th. ValuEngine upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Morgan Stanley boosted their price target on shares of Schlumberger from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Bank of America reduced their price target on shares of Schlumberger from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, October 19th. Finally, Exane BNP Paribas assumed coverage on shares of Schlumberger in a research report on Monday, October 12th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $22.29.
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; and petro technical data services and training solutions.
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