Nippon Life Insurance Co. raised its stake in shares of Schlumberger Limited. (NYSE:SLB) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,445 shares of the oil and gas company’s stock after acquiring an additional 1,765 shares during the period. Nippon Life Insurance Co.’s holdings in Schlumberger were worth $4,007,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Aviance Capital Management LLC purchased a new position in shares of Schlumberger in the second quarter valued at approximately $100,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Schlumberger in the second quarter valued at approximately $107,000. Tradewinds Capital Management LLC boosted its stake in shares of Schlumberger by 22.3% in the second quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 298 shares during the period. Jacobi Capital Management LLC boosted its stake in shares of Schlumberger by 95.8% in the second quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 1,000 shares during the period. Finally, Atlantic Trust LLC purchased a new position in shares of Schlumberger in the second quarter valued at approximately $137,000. Institutional investors and hedge funds own 79.32% of the company’s stock.
SLB has been the subject of several recent research reports. Piper Jaffray Companies set a $74.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 21st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $80.00 price target on shares of Schlumberger in a research note on Wednesday, September 6th. Goldman Sachs Group downgraded shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price target for the company. in a research note on Monday, November 13th. Royal Bank of Canada set a $73.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Thursday. Finally, Scotiabank set a $80.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Schlumberger presently has a consensus rating of “Buy” and a consensus price target of $79.42.
Shares of Schlumberger Limited. (NYSE:SLB) opened at $67.44 on Monday. The firm has a market cap of $94,003.88, a P/E ratio of 172.93, a PEG ratio of 2.08 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Schlumberger Limited. has a 12-month low of $61.02 and a 12-month high of $87.84.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the 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 net margin of 1.86% and a return on equity of 4.42%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. research analysts expect that Schlumberger Limited. will post 1.47 earnings per share 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 given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 2.97%. Schlumberger’s dividend payout ratio is presently 512.83%.
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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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