Primecap Management Co. CA decreased its stake in shares of Schlumberger Limited. (NYSE:SLB) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,596,654 shares of the oil and gas company’s stock after selling 27,400 shares during the period. Primecap Management Co. CA owned 0.26% of Schlumberger worth $219,108,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Mainstay Capital Management LLC ADV grew its position in shares of Schlumberger by 3,884.1% in the second quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 6,603 shares during the period. Zions Bancorporation purchased a new stake in shares of Schlumberger in the third quarter valued at $131,000. Truvestments Capital LLC purchased a new stake in shares of Schlumberger in the third quarter valued at $132,000. Whitener Capital Management Inc. purchased a new stake in shares of Schlumberger in the third quarter valued at $137,000. Finally, Moneta Group Investment Advisors LLC grew its position in shares of Schlumberger by 909.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 20,137 shares during the period. 77.74% of the stock is owned by institutional investors.
In related news, Director Michael E. Marks bought 8,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was bought at an average price of $60.31 per share, with a total value of $482,480.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. Research analysts predict that Schlumberger Limited. will post 1.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, December 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 4.30%. Schlumberger’s dividend payout ratio is presently 133.33%.
SLB has been the subject of a number of recent analyst reports. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Stifel Nicolaus initiated coverage on Schlumberger in a research report on Monday, September 10th. They issued a “hold” rating and a $69.00 price objective for the company. Morgan Stanley initiated coverage on Schlumberger in a research report on Tuesday, September 18th. They issued an “equal weight” rating and a $72.00 price objective for the company. Jefferies Financial Group lowered their price objective on Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. Finally, Tudor Pickering downgraded Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. Schlumberger has a consensus rating of “Buy” and an average price target of $76.94.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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