Family Management Corp boosted its stake in shares of Schlumberger Limited. (NYSE:SLB) by 21.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,700 shares of the oil and gas company’s stock after purchasing an additional 10,505 shares during the period. Schlumberger comprises about 2.7% of Family Management Corp’s investment portfolio, making the stock its 20th biggest position. Family Management Corp’s holdings in Schlumberger were worth $3,865,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Cetera Investment Advisers raised its holdings in Schlumberger by 9.2% during the second quarter. Cetera Investment Advisers now owns 6,810 shares of the oil and gas company’s stock valued at $448,000 after acquiring an additional 574 shares during the period. Afam Capital Inc. raised its holdings in Schlumberger by 1.2% during the second quarter. Afam Capital Inc. now owns 15,121 shares of the oil and gas company’s stock valued at $996,000 after acquiring an additional 183 shares during the period. Beaton Management Co. Inc. bought a new stake in Schlumberger during the second quarter valued at about $415,000. WINTON GROUP Ltd raised its holdings in Schlumberger by 277.1% during the second quarter. WINTON GROUP Ltd now owns 21,720 shares of the oil and gas company’s stock valued at $1,430,000 after acquiring an additional 15,960 shares during the period. Finally, North Star Asset Management Inc. raised its holdings in Schlumberger by 3.6% during the second quarter. North Star Asset Management Inc. now owns 35,379 shares of the oil and gas company’s stock valued at $2,329,000 after acquiring an additional 1,230 shares during the period. Institutional investors own 79.76% of the company’s stock.
Shares of Schlumberger Limited. (NYSE SLB) traded down $0.88 during midday trading on Thursday, reaching $63.30. The company’s stock had a trading volume of 7,485,500 shares, compared to its average volume of 7,144,598. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40. Schlumberger Limited. has a 52 week low of $61.02 and a 52 week high of $87.84. The company has a market capitalization of $88,906.11, a PE ratio of 49.75, a P/E/G ratio of 1.96 and a beta of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 3.16%. Schlumberger’s payout ratio is currently 512.83%.
In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total transaction of $219,205.00. Following the sale, the director now directly owns 1,500 shares of the company’s stock, valued at $93,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
SLB has been the topic of a number of recent analyst reports. Deutsche Bank initiated coverage on Schlumberger in a report on Tuesday, October 10th. They set a “buy” rating and a $78.00 price target on the stock. Royal Bank of Canada set a $86.00 price target on Schlumberger and gave the company a “buy” rating in a report on Saturday, October 7th. Cowen set a $80.00 price target on Schlumberger and gave the company a “buy” rating in a report on Friday, October 6th. Citigroup raised their price target on Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Jefferies Group reissued a “buy” rating and set a $80.00 price target on shares of Schlumberger in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Schlumberger currently has an average rating of “Buy” and an average target price of $79.31.
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Schlumberger Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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