Livforsakringsbolaget Skandia Omsesidigt reduced its holdings in Schlumberger Limited. (NYSE:SLB) by 49.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,303 shares of the oil and gas company’s stock after selling 12,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Schlumberger were worth $749,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Precocity Capital LP increased its holdings in Schlumberger by 20.0% in the second quarter. Precocity Capital LP now owns 60,000 shares of the oil and gas company’s stock worth $4,022,000 after purchasing an additional 10,000 shares in the last quarter. Private Advisor Group LLC increased its holdings in Schlumberger by 214.6% in the second quarter. Private Advisor Group LLC now owns 28,977 shares of the oil and gas company’s stock worth $1,903,000 after purchasing an additional 19,765 shares in the last quarter. Bain Capital Public Equity Management LLC bought a new stake in Schlumberger in the second quarter worth approximately $45,421,000. Barings LLC increased its holdings in Schlumberger by 365.6% in the second quarter. Barings LLC now owns 325,428 shares of the oil and gas company’s stock worth $21,813,000 after purchasing an additional 255,539 shares in the last quarter. Finally, Intrust Bank NA increased its holdings in Schlumberger by 10.2% in the second quarter. Intrust Bank NA now owns 18,356 shares of the oil and gas company’s stock worth $1,231,000 after purchasing an additional 1,696 shares in the last quarter. Institutional investors and hedge funds own 78.52% of the company’s stock.
A number of equities research analysts have commented on SLB shares. Tudor Pickering cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Credit Suisse Group raised their price objective on Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. UBS Group reduced their price objective on Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Finally, Jefferies Financial Group set a $80.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $76.84.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. Schlumberger’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, research analysts predict that Schlumberger Limited. will post 1.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 annualized dividend and a dividend yield of 3.89%. Schlumberger’s payout ratio is 133.33%.
In related news, Director Michael E. Marks bought 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average price of $60.31 per share, with a total value of $482,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.
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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