Stoneridge Investment Partners LLC trimmed its stake in shares of Schlumberger Limited. (NYSE:SLB) by 12.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,095 shares of the oil and gas company’s stock after selling 4,829 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Schlumberger were worth $2,077,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC increased its position in Schlumberger by 6,833.5% in the 1st quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock valued at $3,457,000 after acquiring an additional 3,407,195 shares during the period. Bank of New York Mellon Corp increased its position in Schlumberger by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after acquiring an additional 2,188,823 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Schlumberger in the 1st quarter valued at approximately $47,225,000. Bain Capital Public Equity Management LLC acquired a new position in Schlumberger in the 2nd quarter valued at approximately $45,421,000. Finally, Royal London Asset Management Ltd. acquired a new position in Schlumberger in the 2nd quarter valued at approximately $39,461,000. Institutional investors and hedge funds own 78.52% of the company’s stock.
Several equities analysts have issued reports on the stock. Tudor Pickering cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Credit Suisse Group upped their price target on shares of Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. UBS Group decreased their price target on shares of Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Finally, Jefferies Financial Group set a $80.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $76.84.
In related news, Director Michael E. Marks bought 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average cost of $60.31 per share, with a total value of $482,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Simon Ayat sold 60,000 shares of the stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the transaction, the chief financial officer now directly owns 234,008 shares in the company, valued at $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
SLB opened at $51.40 on Friday. Schlumberger Limited. has a twelve month low of $50.72 and a twelve month high of $80.35. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.38. The firm has a market cap of $71.05 billion, a PE ratio of 29.32, a PEG ratio of 5.06 and a beta of 1.03.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. During the same period in the prior year, the company posted $0.42 earnings per share. Schlumberger’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that Schlumberger Limited. will post 1.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, December 4th. Schlumberger’s dividend payout ratio is presently 133.33%.
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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