Bristol Advisors LLC bought a new position in Schlumberger Limited. (NYSE:SLB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,200 shares of the oil and gas company’s stock, valued at approximately $772,000. Schlumberger Limited. comprises about 0.8% of Bristol Advisors LLC’s portfolio, making the stock its 23rd largest position.
Several other institutional investors also recently modified their holdings of SLB. State Street Corp boosted its stake in Schlumberger Limited. by 4.0% in the fourth quarter. State Street Corp now owns 71,630,356 shares of the oil and gas company’s stock worth $6,015,125,000 after buying an additional 2,755,140 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Schlumberger Limited. by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 36,026,336 shares of the oil and gas company’s stock worth $2,833,111,000 after buying an additional 118,380 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Schlumberger Limited. by 2.7% in the third quarter. BlackRock Fund Advisors now owns 20,014,573 shares of the oil and gas company’s stock worth $1,573,946,000 after buying an additional 535,156 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Schlumberger Limited. by 7.5% in the third quarter. Ameriprise Financial Inc. now owns 9,181,556 shares of the oil and gas company’s stock worth $722,382,000 after buying an additional 642,178 shares in the last quarter. Finally, State Farm Mutual Automobile Insurance Co. boosted its stake in Schlumberger Limited. by 1.8% in the third quarter. State Farm Mutual Automobile Insurance Co. now owns 7,037,969 shares of the oil and gas company’s stock worth $553,466,000 after buying an additional 122,830 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.
Shares of Schlumberger Limited. (NYSE:SLB) traded down 2.18% on Friday, reaching $74.84. 14,539,686 shares of the company’s stock traded hands. Schlumberger Limited. has a one year low of $72.00 and a one year high of $87.84. The company’s 50-day moving average price is $78.43 and its 200 day moving average price is $81.49. The firm’s market cap is $104.14 billion. Schlumberger Limited. also was the target of some unusual options trading activity on Friday. Stock traders bought 2,048 call options on the stock. This represents an increase of approximately 398% compared to the typical volume of 411 call options.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.67%. Schlumberger Limited.’s dividend payout ratio is currently -169.49%.
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A number of research analysts have commented on SLB shares. Jefferies Group LLC reiterated a “buy” rating and issued a $99.00 price objective on shares of Schlumberger Limited. in a research report on Thursday, April 6th. SunTrust Banks, Inc. assumed coverage on Schlumberger Limited. in a research report on Wednesday, January 18th. They issued a “hold” rating and a $92.00 price target on the stock. Evercore ISI restated a “buy” rating and issued a $99.00 price target on shares of Schlumberger Limited. in a research report on Tuesday, January 31st. FBR & Co lifted their target price on Schlumberger Limited. from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Finally, Zacks Investment Research lowered Schlumberger Limited. from a “hold” rating to a “sell” rating in a report on Tuesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Schlumberger Limited. currently has a consensus rating of “Buy” and an average price target of $95.83.
In other news, Director Tore I. Sandvold sold 5,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $81.54, for a total value of $407,700.00. Following the sale, the director now owns 7,750 shares of the company’s stock, valued at $631,935. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.36% of the company’s stock.
Schlumberger Limited. Company Profile
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.
