Quest Capital Management Inc. ADV lowered its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 99.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,501 shares of the oil and gas company’s stock after selling 912,518 shares during the period. Quest Capital Management Inc. ADV’s holdings in Schlumberger were worth $338,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC increased its stake in Schlumberger by 9.7% in the 1st quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock worth $595,174,000 after buying an additional 1,203,997 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Schlumberger by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock valued at $593,754,000 after acquiring an additional 1,125,484 shares during the last quarter. Smead Capital Management Inc. acquired a new stake in Schlumberger in the 2nd quarter valued at about $38,425,000. Parametric Portfolio Associates LLC lifted its holdings in Schlumberger by 26.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 3,786,185 shares of the oil and gas company’s stock valued at $164,964,000 after acquiring an additional 781,979 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Schlumberger by 6.4% in the 2nd quarter. Fisher Asset Management LLC now owns 11,816,154 shares of the oil and gas company’s stock valued at $469,574,000 after acquiring an additional 709,200 shares during the last quarter. 77.19% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on SLB shares. Royal Bank of Canada cut their price target on shares of Schlumberger to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, June 7th. Raymond James reiterated a “hold” rating on shares of Schlumberger in a report on Friday, June 21st. Gabelli assumed coverage on Schlumberger in a report on Thursday, June 27th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Piper Jaffray Companies set a $40.00 price target on Schlumberger and gave the company a “buy” rating in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Schlumberger currently has a consensus rating of “Hold” and a consensus price target of $52.17.
Shares of SLB traded down $0.40 during mid-day trading on Tuesday, hitting $33.70. The company’s stock had a trading volume of 204,788 shares, compared to its average volume of 10,702,599. Schlumberger Limited. has a one year low of $31.11 and a one year high of $65.61. 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 firm has a market capitalization of $45.25 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.44. The stock’s 50-day moving average is $37.81 and its two-hundred day moving average is $40.70.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. Schlumberger’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. Analysts expect that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 5.93%. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.
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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