TRUE Private Wealth Advisors bought a new stake in Schlumberger Limited. (NYSE:SLB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,450 shares of the oil and gas company’s stock, valued at approximately $57,000.
Other large investors have also recently added to or reduced their stakes in the company. Chesley Taft & Associates LLC boosted its position in Schlumberger by 2.1% during the second quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock worth $854,000 after purchasing an additional 450 shares during the period. BTC Capital Management Inc. boosted its position in Schlumberger by 3.6% during the second quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock worth $3,520,000 after purchasing an additional 3,056 shares during the period. Griffin Asset Management Inc. boosted its position in Schlumberger by 44.3% during the first quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock worth $5,833,000 after purchasing an additional 41,076 shares during the period. Manning & Napier Group LLC boosted its position in Schlumberger by 4.6% during the second quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock worth $136,608,000 after purchasing an additional 152,088 shares during the period. Finally, Taylor Cottrill Erickson & Associates Inc. boosted its position in Schlumberger by 31.2% during the first quarter. Taylor Cottrill Erickson & Associates Inc. now owns 31,794 shares of the oil and gas company’s stock worth $1,385,000 after purchasing an additional 7,566 shares during the period. 77.22% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on SLB. Morgan Stanley set a $51.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. Stifel Nicolaus raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, June 7th. SunTrust Banks lifted their price objective on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Gabelli began coverage on shares of Schlumberger in a research report on Thursday, June 27th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Royal Bank of Canada reduced their price objective on shares of Schlumberger to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $52.17.
In related news, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the transaction, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
Shares of SLB traded up $1.07 during midday trading on Friday, reaching $32.72. 13,454,900 shares of the stock were exchanged, compared to its average volume of 10,335,576. Schlumberger Limited. has a twelve month low of $31.11 and a twelve month high of $65.61. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The company has a market cap of $44.73 billion, a P/E ratio of 20.20, a PEG ratio of 2.03 and a beta of 1.44. The stock’s 50 day simple moving average is $38.21 and its 200 day simple moving average is $40.81.
Schlumberger (NYSE:SLB) last posted its 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. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The company had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, analysts predict that Schlumberger Limited. will post 1.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
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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