Ancora Advisors LLC boosted its position in Schlumberger Limited. (NYSE:SLB) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,312 shares of the oil and gas company’s stock after buying an additional 2,934 shares during the period. Ancora Advisors LLC’s holdings in Schlumberger were worth $3,553,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of SLB. Portland Global Advisors LLC boosted its stake in Schlumberger by 2.8% during the 2nd quarter. Portland Global Advisors LLC now owns 28,240 shares of the oil and gas company’s stock valued at $1,893,000 after purchasing an additional 770 shares during the last quarter. Guyasuta Investment Advisors Inc. boosted its stake in shares of Schlumberger by 0.5% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 165,349 shares of the oil and gas company’s stock worth $11,083,000 after buying an additional 809 shares during the last quarter. Securian Asset Management Inc boosted its stake in shares of Schlumberger by 0.6% in the 2nd quarter. Securian Asset Management Inc now owns 139,962 shares of the oil and gas company’s stock worth $9,382,000 after buying an additional 841 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Schlumberger by 17.1% in the 2nd quarter. Parallel Advisors LLC now owns 5,942 shares of the oil and gas company’s stock worth $398,000 after buying an additional 868 shares during the last quarter. Finally, Covenant Multifamily Offices LLC boosted its stake in shares of Schlumberger by 2.3% in the 2nd quarter. Covenant Multifamily Offices LLC now owns 39,569 shares of the oil and gas company’s stock worth $2,652,000 after buying an additional 904 shares during the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.
Schlumberger stock opened at $45.10 on Monday. Schlumberger Limited. has a 12 month low of $44.68 and a 12 month high of $80.35. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $62.45 billion, a P/E ratio of 30.07, a PEG ratio of 4.45 and a beta of 1.03.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 4.43%. Schlumberger’s payout ratio is 133.33%.
In related news, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 234,008 shares in the company, valued at $13,244,852.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael E. Marks bought 8,000 shares of the stock in a transaction on Thursday, September 6th. The shares were acquired at an average cost of $60.31 per share, for a total transaction of $482,480.00. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by corporate insiders.
A number of brokerages have recently weighed in on SLB. Zacks Investment Research downgraded Schlumberger from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. ValuEngine upgraded Schlumberger from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Macquarie set a $71.00 target price on Schlumberger and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Wolfe Research began coverage on Schlumberger in a research note on Wednesday, October 10th. They issued a “market perform” rating on the stock. Finally, Stephens began coverage on Schlumberger in a research note on Friday, October 12th. They issued a “weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. Schlumberger currently has a consensus rating of “Buy” and a consensus target price of $76.94.
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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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