John G Ullman & Associates Inc. grew its stake in shares of Schlumberger Limited. (NYSE:SLB) by 9.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,425 shares of the oil and gas company’s stock after acquiring an additional 10,250 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Schlumberger were worth $4,547,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of SLB. Ellis Investment Partners LLC acquired a new stake in Schlumberger during the 1st quarter worth approximately $26,000. Quad Cities Investment Group LLC acquired a new stake in Schlumberger during the 2nd quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Schlumberger during the 2nd quarter worth approximately $32,000. Lenox Wealth Management Inc. increased its position in Schlumberger by 41.1% during the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 256 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in Schlumberger during the 1st quarter worth approximately $38,000. 77.22% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on SLB shares. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Piper Jaffray Companies set a $40.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 1st. SunTrust Banks increased their target price on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Morgan Stanley set a $51.00 price target on Schlumberger and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada decreased their price target on Schlumberger to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $52.17.
NYSE SLB traded up $1.07 on Friday, reaching $32.72. The company had a trading volume of 13,454,900 shares, compared to its average volume of 10,335,576. The firm has a market capitalization of $44.73 billion, a PE ratio of 20.20, a P/E/G ratio of 2.03 and a beta of 1.44. Schlumberger Limited. has a 1 year low of $31.11 and a 1 year high of $65.61. The firm has a 50-day moving average of $38.21 and a 200-day moving average of $40.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. Schlumberger’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. As a group, sell-side analysts expect that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.11%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.
In other news, insider Stephanie Cox sold 24,057 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the transaction, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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