State Board of Administration of Florida Retirement System decreased its holdings in Schlumberger Limited. (NYSE:SLB) by 0.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,887,010 shares of the oil and gas company’s stock after selling 11,973 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Schlumberger were worth $114,957,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of SLB. Truvestments Capital LLC acquired a new position in shares of Schlumberger during the third quarter worth $132,000. Squar Milner Financial Services LLC acquired a new position in shares of Schlumberger during the second quarter worth $157,000. Westbourne Investment Advisors Inc. acquired a new position in shares of Schlumberger during the third quarter worth $158,000. FNY Investment Advisers LLC acquired a new position in shares of Schlumberger during the second quarter worth $182,000. Finally, NuWave Investment Management LLC grew its stake in shares of Schlumberger by 5,526.5% during the third quarter. NuWave Investment Management LLC now owns 2,757 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 2,708 shares in the last quarter. Institutional investors and hedge funds own 78.47% of the company’s stock.
In other news, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Marks bought 8,000 shares of Schlumberger stock in a transaction dated Thursday, September 6th. The stock was acquired 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. 0.48% of the stock is currently owned by corporate insiders.
Shares of SLB opened at $51.40 on Monday. Schlumberger Limited. has a 1-year low of $50.72 and a 1-year high of $80.35. The firm has a market capitalization of $71.18 billion, a P/E ratio of 34.27, a P/E/G 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 (NYSE:SLB) last announced its earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 business 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 earned $0.42 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited. will post 1.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, December 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.89%. Schlumberger’s payout ratio is 133.33%.
SLB has been the subject of a number of analyst reports. ValuEngine downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Jefferies Financial Group lowered their target price on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, September 26th. Citigroup reduced their price target on shares of Schlumberger from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Tudor Pickering cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Bank of America assumed coverage on shares of Schlumberger in a research report on Wednesday, October 17th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.84.
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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