Blume Capital Management Inc. boosted its position in Schlumberger Limited (NYSE:SLB) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,600 shares of the oil and gas company’s stock after buying an additional 900 shares during the period. Blume Capital Management Inc.’s holdings in Schlumberger were worth $1,108,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of SLB. Corsicana & Co. bought a new stake in Schlumberger in the 2nd quarter valued at about $26,000. Sierra Capital LLC acquired a new position in Schlumberger during the 1st quarter valued at about $26,000. Eagle Bay Advisors LLC acquired a new position in Schlumberger during the 2nd quarter valued at about $27,000. Cowen Prime Advisors LLC acquired a new position in Schlumberger during the 2nd quarter valued at about $27,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Schlumberger during the 1st quarter valued at about $28,000. 76.26% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Schlumberger in a research note on Thursday, September 9th. Cowen reiterated an “outperform” rating and issued a $29.03 price objective (down previously from $32.00) on shares of Schlumberger in a research note on Monday, July 26th. Morgan Stanley upped their price objective on Schlumberger from $32.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. TheStreet upgraded Schlumberger from a “d+” rating to a “c-” rating in a research note on Thursday, June 10th. Finally, HSBC upgraded Schlumberger from a “reduce” rating to a “hold” rating and upped their price objective for the company from $18.10 to $25.00 in a research note on Wednesday, August 4th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Buy” and a consensus price target of $29.84.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Schlumberger had a net margin of 4.72% and a return on equity of 9.96%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 1.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Wednesday, September 1st will be paid a $0.125 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $0.50 dividend on an annualized basis and a yield of 1.73%. Schlumberger’s dividend payout ratio is presently 73.53%.
Schlumberger Company Profile
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.
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