Independent Advisor Alliance bought a new position in shares of Schlumberger Limited. (NYSE:SLB) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,001 shares of the oil and gas company’s stock, valued at approximately $205,000.
Several other hedge funds have also made changes to their positions in the company. Harding Loevner LP increased its position in shares of Schlumberger by 1,337.3% during the third quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after purchasing an additional 129,289,552 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Schlumberger by 2.9% during the second quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock worth $6,519,670,000 after purchasing an additional 2,790,227 shares in the last quarter. Dodge & Cox increased its position in shares of Schlumberger by 12.8% during the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after purchasing an additional 5,494,165 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Schlumberger by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 25,620,279 shares of the oil and gas company’s stock worth $1,787,272,000 after purchasing an additional 548,250 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Schlumberger by 2.9% during the second quarter. Northern Trust Corp now owns 18,762,468 shares of the oil and gas company’s stock worth $1,235,321,000 after purchasing an additional 536,928 shares in the last quarter. 79.18% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Simon Ayat sold 75,000 shares of the 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 transaction, the chief financial officer now owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Howard Guild sold 25,000 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the transaction, the insider now directly owns 22,410 shares in the company, valued at approximately $1,753,806.60. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.12 billion. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. research analysts predict that Schlumberger Limited. will post 2.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio is presently -183.49%.
SLB has been the subject of several research reports. Goldman Sachs Group cut Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price target for the company. in a research report on Monday, November 13th. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Piper Jaffray Companies boosted their price target on Schlumberger from $74.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Citigroup dropped their price target on Schlumberger from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Finally, Jefferies Group set a $78.00 price target on Schlumberger and gave the stock a “buy” rating in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-six 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 a consensus price target of $82.29.
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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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