Arrowstreet Capital Limited Partnership grew its holdings in Schlumberger Limited. (NYSE:SLB) by 192.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,000 shares of the oil and gas company’s stock after buying an additional 7,900 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Schlumberger were worth $790,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Comprehensive Portfolio Management LLC acquired a new position in Schlumberger during the second quarter worth $885,000. Bank of Montreal Can raised its holdings in Schlumberger by 41.6% during the second quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock worth $105,414,000 after purchasing an additional 470,615 shares during the last quarter. Denver Investment Advisors LLC raised its holdings in Schlumberger by 5.8% during the second quarter. Denver Investment Advisors LLC now owns 160,191 shares of the oil and gas company’s stock worth $10,547,000 after purchasing an additional 8,817 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Schlumberger during the second quarter worth $14,156,000. Finally, SOL Capital Management CO raised its holdings in Schlumberger by 8.3% during the second quarter. SOL Capital Management CO now owns 5,226 shares of the oil and gas company’s stock worth $344,000 after purchasing an additional 400 shares during the last quarter. 79.76% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on SLB. BidaskClub cut Schlumberger from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Jefferies Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Schlumberger in a report on Friday, September 29th. Loop Capital reduced their price objective on Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Royal Bank of Canada set a $86.00 price target on Schlumberger and gave the stock a “buy” rating in a report on Saturday, October 7th. Finally, SunTrust Banks reissued a “hold” rating on shares of Schlumberger in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Schlumberger presently has an average rating of “Buy” and a consensus target price of $79.31.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data 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 business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. research analysts forecast that Schlumberger Limited. will post 1.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Tuesday, December 5th. Schlumberger’s dividend payout ratio is currently 512.83%.
In other news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the completion of the sale, the director now owns 1,500 shares of the company’s stock, valued at $93,945. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is owned by insiders.
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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