Sustainable Growth Advisers LP boosted its position in Schlumberger Limited. (NYSE:SLB) by 88.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,110,888 shares of the oil and gas company’s stock after purchasing an additional 1,462,060 shares during the period. Schlumberger comprises 3.0% of Sustainable Growth Advisers LP’s investment portfolio, making the stock its 18th biggest position. Sustainable Growth Advisers LP owned approximately 0.22% of Schlumberger worth $204,821,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comprehensive Portfolio Management LLC purchased a new position in Schlumberger in the 2nd quarter valued at approximately $885,000. Bank of Montreal Can increased its stake in Schlumberger by 41.6% in the 2nd quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock valued at $105,414,000 after purchasing an additional 470,615 shares in the last quarter. Denver Investment Advisors LLC grew its holdings in Schlumberger by 5.8% during the 2nd quarter. Denver Investment Advisors LLC now owns 160,191 shares of the oil and gas company’s stock valued at $10,547,000 after buying an additional 8,817 shares during the last quarter. SOL Capital Management CO grew its holdings in Schlumberger by 8.3% during the 2nd quarter. SOL Capital Management CO now owns 5,226 shares of the oil and gas company’s stock valued at $344,000 after buying an additional 400 shares during the last quarter. Finally, Cambiar Investors LLC grew its holdings in Schlumberger by 53.8% during the 2nd quarter. Cambiar Investors LLC now owns 4,934,780 shares of the oil and gas company’s stock valued at $324,906,000 after buying an additional 1,726,174 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the transaction, the director now owns 1,500 shares in the company, valued at $93,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on SLB shares. Goldman Sachs Group cut Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price on the stock. in a report on Monday, November 13th. Piper Jaffray Companies set a $74.00 target price on Schlumberger and gave the company a “buy” rating in a report on Saturday, October 21st. BMO Capital Markets reiterated a “buy” rating and set a $74.00 target price on shares of Schlumberger in a report on Wednesday, September 6th. Sanford C. Bernstein reiterated an “outperform” rating and set a $80.00 target price on shares of Schlumberger in a report on Wednesday, September 6th. Finally, Citigroup lowered their target price on Schlumberger from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $79.31.
Shares of Schlumberger Limited. (SLB) traded down $0.65 during trading on Tuesday, reaching $63.45. The company had a trading volume of 8,212,712 shares, compared to its average volume of 7,097,536. Schlumberger Limited. has a 52-week low of $61.02 and a 52-week high of $87.84. The firm has a market capitalization of $87,890.00, a PE ratio of 50.18, a P/E/G ratio of 1.98 and a beta of 1.01. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The firm had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. analysts predict that Schlumberger Limited. will post 1.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Wednesday, December 6th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, December 5th. Schlumberger’s payout ratio is currently 512.82%.
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Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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