Summit Financial Group Inc. lessened its position in Schlumberger Limited. (NYSE:SLB) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,927 shares of the oil and gas company’s stock after selling 623 shares during the quarter. Summit Financial Group Inc.’s holdings in Schlumberger were worth $511,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC acquired a new stake in shares of Schlumberger in the second quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Schlumberger in the second quarter valued at approximately $32,000. Doyle Wealth Management acquired a new stake in shares of Schlumberger in the second quarter valued at approximately $33,000. Meridian Wealth Management LLC acquired a new stake in shares of Schlumberger in the first quarter valued at approximately $38,000. Finally, Shamrock Asset Management LLC increased its holdings in shares of Schlumberger by 49.6% in the second quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.
Several research firms have issued reports on SLB. Piper Jaffray Companies set a $40.00 target price on Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 1st. ValuEngine raised Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America cut their target price on Schlumberger from $51.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Finally, Raymond James reissued a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $49.39.
Shares of SLB traded up $0.22 during midday trading on Wednesday, hitting $30.93. 6,700,980 shares of the stock were exchanged, compared to its average volume of 10,592,853. Schlumberger Limited. has a 52-week low of $30.65 and a 52-week high of $63.65. The stock has a fifty day simple moving average of $34.30 and a 200 day simple moving average of $38.34. The firm has a market cap of $44.09 billion, a P/E ratio of 19.09, a P/E/G ratio of 2.26 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The business had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same period last year, the business posted $0.43 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Schlumberger Limited. will post 1.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a dividend yield of 6.47%. Schlumberger’s dividend payout ratio is currently 123.46%.
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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