Hartford Investment Management Co. decreased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,010 shares of the oil and gas company’s stock after selling 2,800 shares during the quarter. Hartford Investment Management Co.’s holdings in Schlumberger were worth $21,626,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Aviance Capital Management LLC bought a new position in Schlumberger during the second quarter worth about $100,000. Mountain Capital Investment Advisors Inc bought a new position in Schlumberger during the second quarter worth about $107,000. Tradewinds Capital Management LLC increased its position in Schlumberger by 22.3% during the second quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 298 shares during the period. Jacobi Capital Management LLC increased its position in Schlumberger by 95.8% during the second quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,000 shares during the period. Finally, Atlantic Trust LLC bought a new position in Schlumberger in the 2nd quarter valued at about $137,000. Hedge funds and other institutional investors own 79.18% of the company’s stock.
Shares of Schlumberger Limited. (NYSE SLB) opened at $66.00 on Wednesday. The company has a market cap of $91,320.00, a price-to-earnings ratio of -60.48, a price-to-earnings-growth ratio of 5.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 1.21. Schlumberger Limited. has a one year low of $61.02 and a one year high of $82.69.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The firm had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. equities research analysts forecast that Schlumberger Limited. will post 2.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a dividend yield of 3.03%. Schlumberger’s payout ratio is -183.49%.
A number of equities research analysts have recently weighed in on the stock. SunTrust Banks raised their price target on shares of Schlumberger from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Susquehanna Bancshares set a $88.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Barclays set a $75.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Finally, Loop Capital reiterated a “buy” rating and set a $82.00 target price (up from $77.00) on shares of Schlumberger in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Schlumberger currently has an average rating of “Buy” and a consensus price target of $82.29.
In related news, insider Howard Guild sold 25,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $78.26, for a total value of $1,956,500.00. Following the transaction, the insider now directly owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Simon Ayat sold 75,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the completion of the transaction, the chief financial officer now directly owns 138,827 shares in the company, valued at $10,947,897.22. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
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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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