Pitcairn Co. reduced its holdings in Schlumberger Limited. (NYSE:SLB) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,485 shares of the oil and gas company’s stock after selling 1,008 shares during the period. Pitcairn Co.’s holdings in Schlumberger were worth $802,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Community Trust & Investment Co. lifted its stake in Schlumberger by 54.4% in the 3rd quarter. Community Trust & Investment Co. now owns 214,715 shares of the oil and gas company’s stock worth $14,979,000 after acquiring an additional 75,679 shares in the last quarter. Pekin Singer Strauss Asset Management IL lifted its stake in Schlumberger by 6.7% in the 3rd quarter. Pekin Singer Strauss Asset Management IL now owns 21,007 shares of the oil and gas company’s stock worth $1,465,000 after acquiring an additional 1,310 shares in the last quarter. Spectrum Asset Management Inc. NB CA purchased a new stake in Schlumberger in the 3rd quarter worth about $257,000. Bessemer Group Inc. raised its stake in shares of Schlumberger by 46.1% during the 3rd quarter. Bessemer Group Inc. now owns 506,439 shares of the oil and gas company’s stock worth $35,331,000 after purchasing an additional 159,856 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. raised its stake in shares of Schlumberger by 12.2% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 339,450 shares of the oil and gas company’s stock worth $23,680,000 after purchasing an additional 36,861 shares in the last quarter. 79.31% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on SLB. Cowen set a $85.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Thursday. Jefferies Group set a $78.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Thursday, January 4th. B. Riley set a $80.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, Royal Bank of Canada set a $73.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $79.56.
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, meeting the Zacks’ consensus estimate of $0.42. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The business had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. During the same period last year, the business earned $0.25 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. research analysts predict that Schlumberger Limited. will post 1.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Wednesday, December 6th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Tuesday, December 5th. Schlumberger’s payout ratio is 512.82%.
In related news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 hyperlink. 0.38% of the stock is currently owned by company 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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