Gateway Investment Advisers LLC trimmed its holdings in Schlumberger Limited. (NYSE:SLB) by 10.9% in the first quarter, Holdings Channel reports. The institutional investor owned 177,594 shares of the oil and gas company’s stock after selling 21,704 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Schlumberger were worth $7,738,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Schlumberger by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 108,726,647 shares of the oil and gas company’s stock worth $6,623,627,000 after buying an additional 735,605 shares during the period. Vanguard Group Inc grew its position in shares of Schlumberger by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 108,726,647 shares of the oil and gas company’s stock worth $6,623,627,000 after buying an additional 735,605 shares during the period. BlackRock Inc. grew its position in shares of Schlumberger by 3.0% during the 4th quarter. BlackRock Inc. now owns 89,747,843 shares of the oil and gas company’s stock worth $3,238,103,000 after buying an additional 2,571,883 shares during the period. Bank of New York Mellon Corp grew its position in shares of Schlumberger by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 31,019,971 shares of the oil and gas company’s stock valued at $1,889,738,000 after purchasing an additional 1,558,478 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Schlumberger by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock valued at $593,754,000 after purchasing an additional 1,125,484 shares during the period. Hedge funds and other institutional investors own 78.93% of the company’s stock.
In related news, EVP Peuch Olivier Le sold 15,000 shares of the stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total value of $660,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 18th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The company had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited. will post 1.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Wednesday, February 13th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Tuesday, February 12th. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
Several equities analysts recently issued reports on the company. Barclays decreased their price objective on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Raymond James reiterated a “hold” rating on shares of Schlumberger in a research report on Tuesday, April 2nd. Credit Suisse Group set a $44.00 price objective on Schlumberger and gave the company a “hold” rating in a research report on Friday, January 18th. Zacks Investment Research reiterated a “strong sell” rating on shares of Schlumberger in a research report on Monday, December 31st. Finally, Goldman Sachs Group assumed coverage on Schlumberger in a research report on Sunday, March 10th. They issued a “buy” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.00.
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Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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