Schlumberger Limited. (SLB) Stake Lessened by Brookmont Capital Management

Brookmont Capital Management lowered its position in Schlumberger Limited. (NYSE:SLB) by 44.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 60,897 shares of the oil and gas company’s stock after selling 49,615 shares during the period. Schlumberger accounts for approximately 2.3% of Brookmont Capital Management’s portfolio, making the stock its 15th largest position. Brookmont Capital Management’s holdings in Schlumberger were worth $4,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLB. Aviance Capital Management LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at $100,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Schlumberger in the 2nd quarter valued at $107,000. Tradewinds Capital Management LLC increased its stake in shares of Schlumberger by 22.3% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 298 shares in the last quarter. Jacobi Capital Management LLC increased its stake in shares of Schlumberger by 95.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Atlantic Trust LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at $137,000. Hedge funds and other institutional investors own 79.30% of the company’s stock.

Shares of Schlumberger Limited. (SLB) opened at $69.75 on Thursday. Schlumberger Limited. has a one year low of $61.02 and a one year high of $82.71. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a market cap of $96,620.00, a price-to-earnings ratio of -63.99, a PEG ratio of 5.42 and a beta of 0.98.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The firm had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. research analysts expect that Schlumberger Limited. will post 2.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a dividend yield of 2.87%. Schlumberger’s payout ratio is -183.49%.

SLB has been the subject of several research analyst reports. Jefferies Group set a $78.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Thursday, January 4th. Loop Capital lowered their price objective on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Scotiabank set a $80.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 21st. Citigroup lowered their price objective on shares of Schlumberger from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Finally, SunTrust Banks reiterated a “hold” rating on shares of Schlumberger in a research note on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $82.29.

In other news, insider Howard Guild sold 25,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $78.26, for a total value of $1,956,500.00. Following the completion of the sale, the insider now owns 22,410 shares in the company, valued at approximately $1,753,806.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the completion of the transaction, the chief financial officer now directly owns 138,827 shares in the company, valued at $10,947,897.22. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

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About Schlumberger

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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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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