QCI Asset Management Inc. NY grew its stake in shares of Schlumberger Limited. (NYSE:SLB) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,511 shares of the oil and gas company’s stock after buying an additional 6,928 shares during the quarter. QCI Asset Management Inc. NY’s holdings in Schlumberger were worth $13,220,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in SLB. Comprehensive Portfolio Management LLC bought a new stake in shares of Schlumberger in the second quarter worth about $885,000. Bank of Montreal Can grew its stake in shares of Schlumberger by 41.6% in the second quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock worth $105,414,000 after purchasing an additional 470,615 shares during the last quarter. WFG Advisors LP grew its stake in shares of Schlumberger by 51.5% in the second quarter. WFG Advisors LP now owns 11,332 shares of the oil and gas company’s stock worth $746,000 after purchasing an additional 3,853 shares during the last quarter. Denver Investment Advisors LLC grew its stake in shares of Schlumberger by 5.8% in the second quarter. Denver Investment Advisors LLC now owns 160,191 shares of the oil and gas company’s stock worth $10,547,000 after purchasing an additional 8,817 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of Schlumberger in the second quarter worth about $14,156,000. 79.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $93,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.
SLB has been the topic of several recent analyst reports. 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 research note on Monday, November 13th. Piper Jaffray Companies set a $74.00 price objective on Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 21st. Citigroup cut their price objective on Schlumberger from $80.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, October 25th. Barclays set a $70.00 price objective on Schlumberger and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Royal Bank of Canada set a $73.00 price objective on Schlumberger and gave the company a “buy” rating in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Schlumberger presently has an average rating of “Buy” and an average target price of $79.56.
Schlumberger Limited. (SLB) opened at $77.21 on Thursday. Schlumberger Limited. has a 1-year low of $61.02 and a 1-year high of $87.84. The stock has a market cap of $106,960.00, a P/E ratio of 197.97, a PEG ratio of 1.59 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.
Schlumberger (NYSE:SLB) last released 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. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.91 billion. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. sell-side analysts predict that Schlumberger Limited. will post 1.46 EPS for the current fiscal year.
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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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