Overbrook Management Corp maintained its position in shares of Schlumberger Limited. (NYSE:SLB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,217 shares of the oil and gas company’s stock at the end of the second quarter. Overbrook Management Corp’s holdings in Schlumberger were worth $343,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in 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 worth $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 worth $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 worth $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 worth $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 worth $409,364,000 after acquiring an additional 1,075,000 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on SLB. Argus began coverage on shares of Schlumberger in a research report on Monday, August 21st. They set a “buy” rating on the stock. BidaskClub lowered shares of Schlumberger from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Barclays set a $70.00 price objective on shares of Schlumberger and gave the company a “hold” rating in a report on Wednesday, October 25th. SunTrust Banks reiterated a “hold” rating on shares of Schlumberger in a report on Tuesday, October 31st. Finally, Citigroup upped their price objective on shares of Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 5th. One equities research 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 issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $79.31.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. research analysts forecast that Schlumberger Limited. will post 1.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.10%. Schlumberger’s dividend payout ratio (DPR) is currently 512.83%.
In other news, Director Tore I. Sandvold sold 3,500 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the completion of the transaction, the director now owns 1,500 shares of the company’s stock, valued at $93,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.
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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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