Comprehensive Portfolio Management LLC acquired a new stake in Schlumberger Limited. (NYSE:SLB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,445 shares of the oil and gas company’s stock, valued at approximately $819,000.
A number of other large investors have also made changes to their positions in SLB. Fisher Asset Management LLC grew its stake in Schlumberger by 21,872.1% in the 1st quarter. Fisher Asset Management LLC now owns 5,868,964 shares of the oil and gas company’s stock valued at $380,192,000 after purchasing an additional 5,842,253 shares during the period. Summit Trail Advisors LLC grew its stake in Schlumberger by 6,833.5% in the 1st quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock valued at $3,457,000 after purchasing an additional 3,407,195 shares during the period. Bank of New York Mellon Corp grew its stake in Schlumberger by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after purchasing an additional 2,188,823 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Schlumberger in the 1st quarter valued at $47,225,000. Finally, Bain Capital Public Equity Management LLC bought a new position in Schlumberger in the 2nd quarter valued at $45,421,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.
A number of brokerages have issued reports on SLB. Seaport Global Securities set a $72.00 price target on Schlumberger and gave the company a “buy” rating in a research report on Monday, July 23rd. ValuEngine raised Schlumberger from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $80.00 price target on shares of Schlumberger in a research report on Monday, July 23rd. Jefferies Financial Group set a $80.00 price target on Schlumberger and gave the company a “buy” rating in a research report on Monday, July 23rd. Finally, Citigroup dropped their price target on Schlumberger from $79.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, June 25th. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Schlumberger has an average rating of “Buy” and an average target price of $78.90.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 20th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, research analysts expect that Schlumberger Limited. will post 1.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 5th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $2.00 dividend on an annualized basis and a yield of 3.37%. Schlumberger’s dividend payout ratio (DPR) is 133.33%.
In related news, Director Michael E. Marks acquired 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average price of $60.31 per share, with a total value of $482,480.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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