Welch & Forbes LLC Has $38.81 Million Holdings in Schlumberger (NYSE:SLB)

Welch & Forbes LLC decreased its position in shares of Schlumberger (NYSE:SLB) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 575,917 shares of the oil and gas company’s stock after selling 59,532 shares during the period. Welch & Forbes LLC’s holdings in Schlumberger were worth $38,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SLB. Meyer Handelman Co. raised its holdings in shares of Schlumberger by 12.3% in the third quarter. Meyer Handelman Co. now owns 232,113 shares of the oil and gas company’s stock worth $16,193,000 after buying an additional 25,494 shares during the last quarter. WFG Advisors LP raised its holdings 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 buying an additional 3,853 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Schlumberger in the second quarter worth $14,156,000. Wilkins Investment Counsel Inc. raised its holdings in shares of Schlumberger by 8.8% in the second quarter. Wilkins Investment Counsel Inc. now owns 111,235 shares of the oil and gas company’s stock worth $7,324,000 after buying an additional 8,950 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of Schlumberger by 1.2% in the second quarter. King Luther Capital Management Corp now owns 861,701 shares of the oil and gas company’s stock worth $56,734,000 after buying an additional 9,874 shares during the last quarter. 79.90% of the stock is owned by institutional investors.

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Shares of NYSE SLB traded down $1.41 during trading on Friday, hitting $64.36. The company had a trading volume of 7,515,858 shares, compared to its average volume of 6,744,343. Schlumberger has a fifty-two week low of $61.02 and a fifty-two week high of $80.89. The firm has a market cap of $91,021.27, a price-to-earnings ratio of 42.91, a price-to-earnings-growth ratio of 5.19 and a beta of 1.05. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.12 billion. During the same quarter last year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. equities research analysts anticipate that Schlumberger will post 2.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be given a $0.50 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 annualized dividend and a dividend yield of 3.11%. Schlumberger’s dividend payout ratio (DPR) is 133.33%.

A number of research analysts have issued reports on SLB shares. Royal Bank of Canada set a $73.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a report on Thursday, December 21st. Morgan Stanley set a $81.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a report on Thursday, January 18th. Cowen set a $85.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a report on Thursday, January 11th. Jefferies Group set a $78.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Thursday, January 4th. Finally, B. Riley set a $80.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Schlumberger presently has an average rating of “Buy” and an average target price of $81.23.

In other news, insider Howard Guild sold 25,000 shares of the firm’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 $1,753,806.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mogharbel Khaled Al purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 28th. The stock was acquired at an average cost of $64.30 per share, for a total transaction of $192,900.00. Following the completion of the purchase, the insider now owns 30,482 shares of the company’s stock, valued at approximately $1,959,992.60. The disclosure for this purchase can be found here. In the last quarter, insiders bought 18,000 shares of company stock worth $1,163,650. Company insiders own 0.48% of the company’s stock.

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Schlumberger Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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