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 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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