Capital Investment Counsel Inc Raises Holdings in Schlumberger Limited. (SLB)

Capital Investment Counsel Inc grew its position in shares of Schlumberger Limited. (NYSE:SLB) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,849 shares of the oil and gas company’s stock after purchasing an additional 6,062 shares during the quarter. Schlumberger makes up about 1.0% of Capital Investment Counsel Inc’s holdings, making the stock its 24th largest position. Capital Investment Counsel Inc’s holdings in Schlumberger were worth $2,793,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. OLD Republic International Corp increased its stake in shares of Schlumberger by 16.9% in the first quarter. OLD Republic International Corp now owns 379,800 shares of the oil and gas company’s stock valued at $24,603,000 after buying an additional 55,000 shares during the period. McKinley Carter Wealth Services Inc. acquired a new position in shares of Schlumberger in the first quarter valued at approximately $154,000. Gables Capital Management Inc. acquired a new position in shares of Schlumberger in the first quarter valued at approximately $568,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Schlumberger in the first quarter valued at approximately $47,225,000. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Schlumberger by 10.4% in the first quarter. Xact Kapitalforvaltning AB now owns 145,514 shares of the oil and gas company’s stock valued at $9,426,000 after buying an additional 13,704 shares during the period. 78.52% of the stock is currently owned by institutional investors.

SLB has been the subject of several recent research reports. Jefferies Financial Group set a $80.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Seaport Global Securities set a $72.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Citigroup lowered their price objective on Schlumberger from $78.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, July 23rd. Credit Suisse Group upped their price objective on Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Schlumberger in a research note on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Schlumberger has an average rating of “Buy” and an average target price of $76.84.

In other news, CFO Simon Ayat sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the sale, the chief financial officer now owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael E. Marks acquired 8,000 shares of Schlumberger stock in a transaction dated Thursday, September 6th. The shares were bought at an average cost of $60.31 per share, with a total value of $482,480.00. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

NYSE:SLB opened at $51.40 on Friday. The company has a market cap of $71.18 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 5.07 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. Schlumberger Limited. has a fifty-two week low of $50.72 and a fifty-two week high of $80.35.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, sell-side analysts expect that Schlumberger Limited. will post 1.69 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, December 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s dividend payout ratio is presently 133.33%.

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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