Cornerstone Advisors Inc. raised its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 36.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,936 shares of the oil and gas company’s stock after buying an additional 783 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Schlumberger were worth $54,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Courier Capital LLC lifted its holdings in shares of Schlumberger by 9.3% during the second quarter. Courier Capital LLC now owns 20,683 shares of the oil and gas company’s stock worth $372,000 after buying an additional 1,752 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Schlumberger by 121.9% in the first quarter. Guggenheim Capital LLC now owns 322,153 shares of the oil and gas company’s stock valued at $4,346,000 after purchasing an additional 176,970 shares in the last quarter. Vident Investment Advisory LLC raised its stake in shares of Schlumberger by 120.8% in the first quarter. Vident Investment Advisory LLC now owns 12,086 shares of the oil and gas company’s stock valued at $163,000 after purchasing an additional 6,613 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Schlumberger by 3.6% in the second quarter. State of Alaska Department of Revenue now owns 246,923 shares of the oil and gas company’s stock valued at $4,540,000 after purchasing an additional 8,545 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Schlumberger by 75.0% in the first quarter. Private Advisor Group LLC now owns 59,248 shares of the oil and gas company’s stock valued at $799,000 after purchasing an additional 25,391 shares in the last quarter. Institutional investors own 74.92% of the company’s stock.
Shares of SLB stock opened at $18.14 on Friday. The stock’s fifty day moving average is $18.67 and its 200-day moving average is $21.96. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.23. The stock has a market capitalization of $25.59 billion, a PE ratio of -1.15, a PEG ratio of 5.02 and a beta of 2.11. Schlumberger Limited. has a 52 week low of $11.87 and a 52 week high of $41.14.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 24th. The oil and gas company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.38 billion. Schlumberger had a positive return on equity of 8.12% and a negative net margin of 73.90%. The business’s revenue for the quarter was down 35.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, analysts forecast that Schlumberger Limited. will post 0.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Tuesday, September 1st. Schlumberger’s payout ratio is presently 34.01%.
In other news, EVP Patrick Schorn sold 34,468 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $17.83, for a total transaction of $614,564.44. Following the transaction, the executive vice president now owns 80,000 shares of the company’s stock, valued at $1,426,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Alexander C. Juden sold 35,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.35, for a total value of $607,250.00. Following the transaction, the general counsel now directly owns 92,103 shares in the company, valued at approximately $1,597,987.05. The disclosure for this sale can be found here. Insiders have sold 84,290 shares of company stock worth $1,506,249 in the last 90 days. Company insiders own 0.58% of the company’s stock.
A number of research analysts recently commented on the company. Wells Fargo & Co lowered Schlumberger from an “overweight” rating to an “equal weight” rating and set a $18.00 target price for the company. in a research note on Monday, April 13th. Sanford C. Bernstein upgraded Schlumberger from an “underperform” rating to an “outperform” rating and cut their target price for the company from $26.90 to $17.90 in a research note on Monday, April 6th. Northland Securities assumed coverage on Schlumberger in a research note on Friday, May 29th. They issued an “outperform” rating and a $20.00 target price for the company. Citigroup upgraded Schlumberger from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $26.00 in a research note on Monday, July 27th. Finally, DZ Bank lowered Schlumberger from a “hold” rating to a “sell” rating and set a $7.00 target price for the company. in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Schlumberger has an average rating of “Hold” and an average target price of $22.72.
Schlumberger Company Profile
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.
Further Reading: Why Net Income is Important to Investors
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