Parallel Advisors LLC raised its position in Schlumberger Limited. (NYSE:SLB) by 51.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,013 shares of the oil and gas company’s stock after acquiring an additional 3,071 shares during the period. Parallel Advisors LLC’s holdings in Schlumberger were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Summit Trail Advisors LLC lifted its stake in shares of Schlumberger by 6,833.5% during the first quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock worth $3,457,000 after buying an additional 3,407,195 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Schlumberger by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock worth $1,974,805,000 after buying an additional 2,188,823 shares during the period. Bain Capital Public Equity Management LLC acquired a new stake in shares of Schlumberger during the second quarter worth $45,421,000. Royal London Asset Management Ltd. acquired a new stake in shares of Schlumberger during the second quarter worth $39,461,000. Finally, Flossbach Von Storch AG lifted its stake in shares of Schlumberger by 69.7% during the second quarter. Flossbach Von Storch AG now owns 1,301,200 shares of the oil and gas company’s stock worth $87,219,000 after buying an additional 534,500 shares during the period. Institutional investors own 78.47% of the company’s stock.
Several equities research analysts have recently commented on SLB shares. Jefferies Financial Group set a $80.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. Seaport Global Securities set a $72.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. Citigroup lowered their price objective on shares of 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 lifted their price objective on shares of Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set 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 assigned a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $76.84.
In other Schlumberger news, Director Michael E. Marks bought 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was bought at an average cost of $60.31 per share, for a total transaction of $482,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Simon Ayat sold 60,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
NYSE SLB opened at $51.96 on Tuesday. The firm has a market cap of $71.18 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 5.07 and a beta of 1.03. Schlumberger Limited. has a 1 year low of $50.72 and a 1 year high of $80.35. 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 posted its earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company 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 firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts predict that Schlumberger Limited. will post 1.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a yield of 3.85%. Schlumberger’s dividend payout ratio is presently 133.33%.
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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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