CIBC World Markets Inc. raised its stake in shares of Schlumberger Limited. (NYSE:SLB) by 1,503.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 636,394 shares of the oil and gas company’s stock after buying an additional 596,712 shares during the quarter. CIBC World Markets Inc.’s holdings in Schlumberger were worth $27,728,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SLB. Vanguard Group Inc grew its holdings in shares of Schlumberger by 0.7% during the third quarter. Vanguard Group Inc now owns 108,726,647 shares of the oil and gas company’s stock worth $6,623,627,000 after purchasing an additional 735,605 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Schlumberger by 3.0% during the fourth quarter. BlackRock Inc. now owns 89,747,843 shares of the oil and gas company’s stock worth $3,238,103,000 after purchasing an additional 2,571,883 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Schlumberger by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after purchasing an additional 1,125,484 shares in the last quarter. Norges Bank purchased a new position in shares of Schlumberger during the fourth quarter worth about $486,635,000. Finally, American Century Companies Inc. grew its holdings in shares of Schlumberger by 15.5% during the fourth quarter. American Century Companies Inc. now owns 11,801,880 shares of the oil and gas company’s stock worth $425,812,000 after purchasing an additional 1,583,692 shares in the last quarter. 77.22% of the stock is owned by institutional investors and hedge funds.
NYSE:SLB opened at $35.58 on Thursday. The company has a market capitalization of $50.09 billion, a P/E ratio of 21.96, a PEG ratio of 1.47 and a beta of 1.39. Schlumberger Limited. has a 1-year low of $34.46 and a 1-year high of $69.61. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.45.
Schlumberger (NYSE:SLB) last released its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The company had revenue of $7.88 billion during the quarter, compared to the consensus estimate of $7.82 billion. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. Schlumberger’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. On average, equities analysts forecast that Schlumberger Limited. will post 1.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $2.00 dividend on an annualized basis and a yield of 5.62%. Schlumberger’s payout ratio is 123.46%.
In related news, CFO Simon Ayat sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total value of $1,152,500.00. Following the completion of the sale, the chief financial officer now owns 255,971 shares in the company, valued at approximately $11,800,263.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Juden sold 8,643 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $43.29, for a total value of $374,155.47. Following the completion of the sale, the insider now owns 70,260 shares of the company’s stock, valued at approximately $3,041,555.40. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Several research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Schlumberger to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Morgan Stanley set a $51.00 price objective on Schlumberger and gave the stock a “hold” rating in a report on Monday, April 22nd. Barclays cut their price objective on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. BMO Capital Markets set a $44.00 price objective on Schlumberger and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $55.78.
Schlumberger Company Profile
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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