Maple Capital Management Inc. boosted its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,004 shares of the oil and gas company’s stock after acquiring an additional 1,708 shares during the quarter. Maple Capital Management Inc. owned about 49.09% of Schlumberger worth $4,744,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Bank of Hawaii grew its stake in shares of Schlumberger by 5.1% in the third quarter. Bank of Hawaii now owns 17,684 shares of the oil and gas company’s stock valued at $1,234,000 after buying an additional 855 shares in the last quarter. Advisor Partners LLC grew its stake in shares of Schlumberger by 18.8% in the third quarter. Advisor Partners LLC now owns 17,096 shares of the oil and gas company’s stock valued at $1,193,000 after buying an additional 2,705 shares in the last quarter. Telos Capital Management Inc. grew its stake in shares of Schlumberger by 3.9% in the third quarter. Telos Capital Management Inc. now owns 30,677 shares of the oil and gas company’s stock valued at $2,140,000 after buying an additional 1,152 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Schlumberger by 1.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 148,343 shares of the oil and gas company’s stock valued at $10,348,000 after buying an additional 2,596 shares in the last quarter. Finally, Blackhill Capital Inc. grew its stake in shares of Schlumberger by 53.6% in the third quarter. Blackhill Capital Inc. now owns 22,920 shares of the oil and gas company’s stock valued at $1,599,000 after buying an additional 8,000 shares in the last quarter. 79.31% of the stock is owned by institutional investors.
SLB has been the subject of a number of research reports. Deutsche Bank initiated coverage on Schlumberger in a research note on Tuesday, October 10th. They issued a “buy” rating and a $78.00 price objective for the company. Royal Bank of Canada set a $86.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 7th. Cowen set a $80.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Friday, October 6th. Citigroup lifted their price objective on Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Schlumberger in a research note on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $79.37.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. The company 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%. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. analysts anticipate that Schlumberger Limited. will post 1.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s dividend payout ratio (DPR) is 512.82%.
In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total transaction of $219,205.00. Following the completion of the sale, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by insiders.
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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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