Abner Herrman & Brock LLC decreased its position in shares of Schlumberger Limited. (NYSE:SLB) by 48.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,232 shares of the oil and gas company’s stock after selling 51,133 shares during the period. Abner Herrman & Brock LLC’s holdings in Schlumberger were worth $1,993,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. BRYN MAWR TRUST Co boosted its position in Schlumberger by 5.2% during the second quarter. BRYN MAWR TRUST Co now owns 107,538 shares of the oil and gas company’s stock valued at $7,208,000 after purchasing an additional 5,337 shares during the last quarter. Luminus Management LLC bought a new position in Schlumberger during the second quarter valued at about $5,027,000. Measured Wealth Private Client Group LLC bought a new position in Schlumberger during the second quarter valued at about $376,000. Flagship Harbor Advisors LLC raised its holdings in Schlumberger by 39.5% during the second quarter. Flagship Harbor Advisors LLC now owns 7,586 shares of the oil and gas company’s stock valued at $508,000 after buying an additional 2,147 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Schlumberger by 238.8% during the second quarter. Point72 Asset Management L.P. now owns 84,700 shares of the oil and gas company’s stock valued at $5,677,000 after buying an additional 59,700 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Simon Ayat sold 60,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the transaction, the chief financial officer now directly owns 234,008 shares in the company, valued at $13,244,852.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick Schorn purchased 10,000 shares of the stock in a transaction that occurred on Thursday, December 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $375,500.00. Following the completion of the purchase, the executive vice president now directly owns 35,000 shares of the company’s stock, valued at $1,314,250. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. Research analysts forecast that Schlumberger Limited. will post 1.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 5th were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.84%. Schlumberger’s payout ratio is presently 133.33%.
SLB has been the topic of several recent research reports. Citigroup cut their target price on Schlumberger from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating in a report on Sunday, December 2nd. JPMorgan Chase & Co. lowered Schlumberger from an “overweight” rating to a “neutral” rating and cut their target price for the company from $73.00 to $48.00 in a report on Tuesday, December 11th. Credit Suisse Group cut their target price on Schlumberger from $82.00 to $71.00 and set an “outperform” rating on the stock in a report on Monday, October 22nd. Finally, Bank of America initiated coverage on Schlumberger in a report on Wednesday, October 17th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.11.
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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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