Tradition Capital Management LLC reduced its holdings in Schlumberger (NYSE:SLB) by 7.9% during the 4th quarter, Holdings Channel reports. The firm owned 18,656 shares of the oil and gas company’s stock after selling 1,609 shares during the quarter. Tradition Capital Management LLC’s holdings in Schlumberger were worth $1,257,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Frontier Wealth Management LLC grew its position in shares of Schlumberger by 0.4% in the second quarter. Frontier Wealth Management LLC now owns 8,229 shares of the oil and gas company’s stock valued at $542,000 after purchasing an additional 35 shares during the last quarter. EagleClaw Capital Managment LLC grew its position in Schlumberger by 0.5% during the second quarter. EagleClaw Capital Managment LLC now owns 23,475 shares of the oil and gas company’s stock worth $1,545,000 after buying an additional 125 shares in the last quarter. Meridian Investment Counsel Inc. grew its position in Schlumberger by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 10,044 shares of the oil and gas company’s stock worth $661,000 after buying an additional 175 shares in the last quarter. Afam Capital Inc. grew its position in Schlumberger by 1.2% during the second quarter. Afam Capital Inc. now owns 15,121 shares of the oil and gas company’s stock worth $996,000 after buying an additional 183 shares in the last quarter. Finally, Adalta Capital Management LLC grew its position in Schlumberger by 0.4% during the second quarter. Adalta Capital Management LLC now owns 55,047 shares of the oil and gas company’s stock worth $3,652,000 after buying an additional 225 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.
In other news, EVP Patrick Schorn bought 5,000 shares of the business’s stock in a transaction dated Monday, March 26th. The stock was bought at an average price of $64.79 per share, for a total transaction of $323,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 24th. The shares were 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 owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The disclosure for this sale can be found here. Insiders bought 18,000 shares of company stock valued at $1,163,650 in the last quarter. 0.48% of the stock is currently owned by corporate insiders.
NYSE:SLB opened at $64.36 on Friday. Schlumberger has a 1 year low of $61.02 and a 1 year high of $80.89. 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 company has a market capitalization of $91,021.27, a PE ratio of 42.91, a PEG ratio of 5.19 and a beta of 1.05.
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, beating analysts’ consensus estimates 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 company had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. Schlumberger’s quarterly revenue was up 15.1% compared to the same quarter last year. sell-side analysts anticipate that Schlumberger will post 2.11 EPS for the current 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is currently 133.33%.
A number of equities research analysts recently weighed in on SLB shares. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Jefferies Group set a $78.00 target price on Schlumberger and gave the stock a “buy” rating in a research report on Thursday, January 4th. Credit Suisse Group set a $86.00 target price on Schlumberger and gave the stock a “buy” rating in a research report on Wednesday, March 14th. B. Riley set a $80.00 target price on Schlumberger and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, SunTrust Banks lifted their target price on Schlumberger from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger has an average rating of “Buy” and a consensus target price of $81.23.
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Schlumberger Company 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.
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