Occidental Asset Management LLC boosted its stake in shares of Schlumberger Limited. (NYSE:SLB) by 12.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,897 shares of the oil and gas company’s stock after purchasing an additional 3,388 shares during the period. Occidental Asset Management LLC’s holdings in Schlumberger were worth $1,202,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC raised its holdings in shares of Schlumberger by 14,172.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 7,796,324 shares of the oil and gas company’s stock valued at $309,825,000 after purchasing an additional 7,741,700 shares in the last quarter. Invesco Ltd. grew its position in shares of Schlumberger by 57.3% in the 2nd quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock worth $663,804,000 after buying an additional 6,087,455 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Schlumberger by 14,241.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,921,974 shares of the oil and gas company’s stock worth $116,119,000 after buying an additional 2,901,600 shares during the last quarter. BlackRock Inc. grew its position in shares of Schlumberger by 2.7% in the 2nd quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock worth $3,571,386,000 after buying an additional 2,340,320 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Schlumberger by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock worth $4,477,227,000 after buying an additional 1,715,548 shares during the last quarter. Institutional investors own 76.58% of the company’s stock.
A number of brokerages have recently issued reports on SLB. Morgan Stanley set a $50.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada set a $40.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research report on Monday, October 21st. Barclays set a $47.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research report on Friday, October 18th. Bernstein Bank began coverage on shares of Schlumberger in a research report on Tuesday. They issued an “underperform” rating and a $27.10 price objective on the stock. Finally, Tudor Pickering raised shares of Schlumberger from a “sell” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Schlumberger currently has a consensus rating of “Buy” and an average target price of $43.26.
In other Schlumberger news, CAO Howard Guild sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $35.36, for a total transaction of $318,240.00. Also, EVP Mogharbel Khaled Al sold 21,385 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $37.07, for a total transaction of $792,741.95. Following the sale, the executive vice president now directly owns 69,872 shares in the company, valued at approximately $2,590,155.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,735 shares of company stock worth $3,762,614. 0.48% of the stock is owned by insiders.
NYSE:SLB opened at $38.60 on Thursday. The company has a market cap of $54.72 billion, a PE ratio of 23.83, a P/E/G ratio of 2.90 and a beta of 1.59. Schlumberger Limited. has a twelve month low of $30.65 and a twelve month high of $48.88. The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $38.88 and its two-hundred day moving average is $36.47.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.50 billion. Schlumberger had a negative net margin of 30.22% and a positive return on equity of 6.00%. Schlumberger’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, analysts expect that Schlumberger Limited. will post 1.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend was Tuesday, December 3rd. Schlumberger’s dividend payout ratio 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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