Mitsubishi UFJ Asset Management UK Ltd. cut its stake in Schlumberger Limited. (NYSE:SLB) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,900 shares of the oil and gas company’s stock after selling 2,000 shares during the quarter. Schlumberger makes up approximately 1.5% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 27th largest position. Mitsubishi UFJ Asset Management UK Ltd. owned approximately 2,014.06% of Schlumberger worth $1,960,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Aviance Capital Management LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth approximately $100,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Schlumberger during the 2nd quarter worth approximately $107,000. Tradewinds Capital Management LLC raised its stake in shares of Schlumberger by 22.3% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after buying an additional 298 shares during the period. Jacobi Capital Management LLC raised its stake in shares of Schlumberger by 95.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after buying an additional 1,000 shares during the period. Finally, Atlantic Trust LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth approximately $137,000. 79.31% of the stock is owned by institutional investors.
Shares of Schlumberger Limited. (NYSE SLB) opened at $77.97 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $108,010.00, a price-to-earnings ratio of 199.92, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. Schlumberger Limited. has a twelve month low of $61.02 and a twelve month high of $87.84.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The company had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. equities research analysts anticipate that Schlumberger Limited. will post 1.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Tuesday, December 5th. Schlumberger’s payout ratio is currently 512.82%.
Several research analysts have recently weighed in on SLB shares. Piper Jaffray Companies set a $74.00 target price on Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 21st. Goldman Sachs Group downgraded Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price for the company. in a research note on Monday, November 13th. Royal Bank of Canada set a $73.00 target price on Schlumberger and gave the stock a “buy” rating in a research note on Thursday, December 21st. Scotiabank set a $80.00 target price on Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 21st. Finally, Deutsche Bank started coverage on Schlumberger in a research note on Tuesday, October 10th. They set a “buy” rating and a $78.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.56.
In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of the company’s 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 completion of the sale, the director now directly owns 1,500 shares in the company, valued at approximately $93,945. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.38% of the stock is owned by corporate insiders.
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Schlumberger Company Profile
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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