Fragasso Group Inc. grew its holdings in Schlumberger Limited. (NYSE:SLB) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,627 shares of the oil and gas company’s stock after acquiring an additional 2,548 shares during the quarter. Fragasso Group Inc.’s holdings in Schlumberger were worth $1,176,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of SLB. Comprehensive Portfolio Management LLC acquired a new stake in shares of Schlumberger during the second quarter worth about $885,000. Meyer Handelman Co. lifted its holdings in shares of Schlumberger by 12.3% during the third quarter. Meyer Handelman Co. now owns 232,113 shares of the oil and gas company’s stock worth $16,193,000 after purchasing an additional 25,494 shares during the period. WFG Advisors LP lifted its holdings in shares of Schlumberger by 51.5% during 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 period. Denver Investment Advisors LLC lifted its holdings in shares of Schlumberger by 5.8% during 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 period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Schlumberger during the second quarter worth about $14,156,000. 79.18% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on SLB. Cowen set a $85.00 target price on Schlumberger and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research cut Schlumberger from a “hold” rating to a “sell” rating in a research report on Monday. Griffin Securities upgraded Schlumberger from a “neutral” rating to a “buy” rating in a research report on Monday. Barclays set a $75.00 price target on Schlumberger and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Finally, SunTrust Banks lifted their price target on Schlumberger from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $82.29.
Shares of Schlumberger Limited. (SLB) opened at $65.87 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95. The stock has a market capitalization of $91,250.00, a P/E ratio of -60.43, a PEG ratio of 5.08 and a beta of 0.98. Schlumberger Limited. has a 12 month low of $61.02 and a 12 month high of $82.69.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The firm had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.12 billion. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. research analysts predict that Schlumberger Limited. will post 2.19 EPS for the current fiscal year.
The company also recently declared 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio is presently -183.49%.
In other news, insider Howard Guild sold 25,000 shares of Schlumberger stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the sale, the insider now directly owns 22,410 shares of the company’s stock, valued at $1,753,806.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the sale, 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. 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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