Strategy Asset Managers LLC cut its stake in Schlumberger Limited. (NYSE:SLB) by 76.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,598 shares of the oil and gas company’s stock after selling 11,543 shares during the period. Strategy Asset Managers LLC’s holdings in Schlumberger were worth $219,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mainstay Capital Management LLC ADV raised its holdings in shares of Schlumberger by 3,884.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock worth $105,000 after buying an additional 6,603 shares in the last quarter. Truvestments Capital LLC bought a new stake in Schlumberger during the 3rd quarter worth $132,000. Moneta Group Investment Advisors LLC grew its position in Schlumberger by 909.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 20,137 shares during the last quarter. Squar Milner Financial Services LLC bought a new stake in Schlumberger during the 2nd quarter worth $157,000. Finally, Westbourne Investment Advisors Inc. bought a new stake in Schlumberger during the 3rd quarter worth $158,000. 78.47% of the stock is owned by hedge funds and other institutional investors.
In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total value of $3,396,000.00. Following the sale, the chief financial officer now owns 234,008 shares in the company, valued at approximately $13,244,852.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 acquired at an average price of $60.31 per share, for a total transaction of $482,480.00. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.57 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Equities research analysts expect that Schlumberger Limited. will post 1.69 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, December 5th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.84%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.
A number of brokerages recently weighed in on SLB. Credit Suisse Group boosted their price objective on Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Piper Jaffray Companies restated a “buy” rating and set a $80.00 price objective on shares of Schlumberger in a research report on Monday, July 23rd. Citigroup reduced their price objective on Schlumberger from $78.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, July 23rd. Jefferies Financial Group set a $80.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 23rd. Finally, Seaport Global Securities set a $72.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. Schlumberger presently has an average rating of “Buy” and a consensus target price of $76.84.
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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