Schlumberger (SLB) Stake Decreased by Dowling & Yahnke LLC

Dowling & Yahnke LLC reduced its holdings in Schlumberger (NYSE:SLB) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 40,041 shares of the oil and gas company’s stock after selling 815 shares during the quarter. Dowling & Yahnke LLC’s holdings in Schlumberger were worth $2,594,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Randolph Co Inc purchased a new position in shares of Schlumberger in the 4th quarter valued at approximately $10,771,000. Twin Tree Management LP lifted its stake in shares of Schlumberger by 135.8% in the 4th quarter. Twin Tree Management LP now owns 51,268 shares of the oil and gas company’s stock valued at $3,455,000 after purchasing an additional 194,616 shares during the period. Lake Street Advisors Group LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at approximately $848,000. Gould Asset Management LLC CA purchased a new position in shares of Schlumberger in the 3rd quarter valued at approximately $250,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Schlumberger in the 4th quarter valued at approximately $7,278,000. Hedge funds and other institutional investors own 80.53% of the company’s stock.

Schlumberger opened at $74.29 on Monday, MarketBeat Ratings reports. Schlumberger has a 1-year low of $61.02 and a 1-year high of $80.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a market capitalization of $102.89 billion, a PE ratio of 49.53, a price-to-earnings-growth ratio of 6.03 and a beta of 1.05.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 20th. The oil and gas company reported $0.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Schlumberger had a positive return on equity of 5.85% and a negative net margin of 4.01%. The firm had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.79 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. research analysts anticipate that Schlumberger will post 2.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Wednesday, June 6th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, June 5th. Schlumberger’s dividend payout ratio is currently 133.33%.

In related news, VP Claudia Jaramillo sold 3,000 shares of Schlumberger stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $72.68, for a total value of $218,040.00. Following the completion of the sale, the vice president now owns 6,162 shares of the company’s stock, valued at $447,854.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick Schorn acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The stock was purchased at an average cost of $64.79 per share, with a total value of $323,950.00. The disclosure for this purchase can be found here. Insiders bought 18,000 shares of company stock valued at $1,163,650 in the last 90 days. Company insiders own 0.48% of the company’s stock.

SLB has been the subject of a number of recent research reports. SunTrust Banks set a $82.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, April 23rd. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Seaport Global Securities set a $76.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, April 23rd. Credit Suisse Group set a $86.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Wednesday, March 14th. Finally, Zacks Investment Research cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $79.80.

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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