Patten Group Inc. grew its stake in shares of Schlumberger Limited. (NYSE:SLB) by 27.7% during the third quarter, Holdings Channel reports. The institutional investor owned 15,220 shares of the oil and gas company’s stock after acquiring an additional 3,305 shares during the quarter. Patten Group Inc.’s holdings in Schlumberger were worth $927,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Zions Bancorporation acquired a new stake in shares of Schlumberger during the third quarter worth about $131,000. Truvestments Capital LLC acquired a new stake in Schlumberger in the 3rd quarter valued at approximately $132,000. Whitener Capital Management Inc. acquired a new stake in Schlumberger in the 3rd quarter valued at approximately $137,000. Westbourne Investment Advisors Inc. acquired a new stake in Schlumberger in the 3rd quarter valued at approximately $158,000. Finally, NuWave Investment Management LLC raised its position in Schlumberger by 5,526.5% in the 3rd quarter. NuWave Investment Management LLC now owns 2,757 shares of the oil and gas company’s stock valued at $168,000 after buying an additional 2,708 shares during the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.
Shares of NYSE:SLB traded down $1.27 during trading on Thursday, hitting $42.85. 5,470,535 shares of the company were exchanged, compared to its average volume of 11,806,092. The firm has a market capitalization of $61.10 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 4.35 and a beta of 1.04. Schlumberger Limited. has a fifty-two week low of $44.02 and a fifty-two week 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.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results 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. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, analysts anticipate that Schlumberger Limited. will post 1.69 earnings per share for the current year.
The business also recently declared 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 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 133.33%.
In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of the business’s stock in a transaction that occurred 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 owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on the company. Tudor Pickering lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. HSBC raised Schlumberger from a “hold” rating to a “buy” rating in a research report on Sunday. ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Credit Suisse Group dropped their target price on Schlumberger from $82.00 to $71.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. Finally, UBS Group dropped their target price on Schlumberger from $92.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.50.
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Schlumberger Company 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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