Chemical Bank trimmed its stake in Schlumberger Limited. (NYSE:SLB) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,779 shares of the oil and gas company’s stock after selling 1,673 shares during the quarter. Chemical Bank’s holdings in Schlumberger were worth $3,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. First Eagle Investment Management LLC raised its position in Schlumberger by 103.9% during the second quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock valued at $1,055,136,000 after acquiring an additional 8,167,945 shares in the last quarter. American Century Companies Inc. raised its position in Schlumberger by 33.5% during the second quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock valued at $731,990,000 after acquiring an additional 2,791,675 shares in the last quarter. Cambiar Investors LLC raised its position in Schlumberger by 53.8% during the second quarter. Cambiar Investors LLC now owns 4,934,780 shares of the oil and gas company’s stock valued at $324,906,000 after acquiring an additional 1,726,174 shares in the last quarter. Sustainable Growth Advisers LP raised its position in Schlumberger by 88.7% during the second quarter. Sustainable Growth Advisers LP now owns 3,110,888 shares of the oil and gas company’s stock valued at $204,821,000 after acquiring an additional 1,462,060 shares in the last quarter. Finally, Swiss National Bank raised its position in Schlumberger by 25.8% during the first quarter. Swiss National Bank now owns 5,241,535 shares of the oil and gas company’s stock valued at $409,364,000 after acquiring an additional 1,075,000 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on SLB. Goldman Sachs Group lowered shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective on the stock. in a research report on Monday, November 13th. Zacks Investment Research raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Schlumberger in a research report on Friday, November 3rd. SunTrust Banks reaffirmed a “hold” rating on shares of Schlumberger in a research report on Tuesday, October 31st. Finally, Loop Capital cut their price objective on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $79.31.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. research analysts expect that Schlumberger Limited. will post 1.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 3.09%. Schlumberger’s payout ratio is 512.83%.
In other news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the sale, the director now owns 1,500 shares in the company, valued at $93,945. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.
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Schlumberger Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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