Jupiter Wealth Management LLC increased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 0.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 70,919 shares of the oil and gas company’s stock after acquiring an additional 460 shares during the period. Schlumberger comprises 1.4% of Jupiter Wealth Management LLC’s portfolio, making the stock its 27th biggest position. Jupiter Wealth Management LLC’s holdings in Schlumberger were worth $2,740,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ellis Investment Partners LLC bought a new position in shares of Schlumberger in the 1st quarter worth $26,000. Quad Cities Investment Group LLC bought a new position in shares of Schlumberger in the 2nd quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Schlumberger in the 2nd quarter worth $32,000. Lenox Wealth Management Inc. raised its position in shares of Schlumberger by 41.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 256 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Schlumberger in the 1st quarter worth $38,000. 77.22% of the stock is owned by hedge funds and other institutional investors.
SLB stock traded up $1.07 on Friday, hitting $32.72. 13,454,900 shares of the company’s stock were exchanged, compared to its average volume of 10,665,050. Schlumberger Limited. has a 12-month low of $31.11 and a 12-month high of $65.61. The firm has a 50 day moving average price of $38.21 and a two-hundred day moving average price of $40.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a market cap of $43.77 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 6.11%. Schlumberger’s dividend payout ratio (DPR) is 123.46%.
Several research analysts have recently commented on the company. Bank of America reissued a “buy” rating and issued a $51.00 price target (down from $60.00) on shares of Schlumberger in a research report on Tuesday, June 25th. Piper Jaffray Companies set a $40.00 price target on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 1st. Tudor Pickering lowered Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target for the company. in a research report on Monday, April 22nd. JPMorgan Chase & Co. reduced their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, Morgan Stanley set a $51.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $52.17.
In other Schlumberger news, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the sale, the executive vice president now owns 130,000 shares in the company, valued at approximately $5,060,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now owns 46,354 shares in the company, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
Schlumberger Company Profile
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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