Rocky Mountain Advisers LLC cut its stake in shares of Schlumberger Limited. (NYSE:SLB) by 48.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 681 shares of the oil and gas company’s stock after selling 650 shares during the quarter. Rocky Mountain Advisers LLC’s holdings in Schlumberger were worth $27,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of SLB. Ellis Investment Partners LLC bought a new position in shares of Schlumberger in the first quarter valued at $26,000. CX Institutional lifted its position in shares of Schlumberger by 158.4% during the first quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 396 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in shares of Schlumberger during the second quarter valued at about $32,000. Old North State Trust LLC lifted its position in shares of Schlumberger by 100.2% during the first quarter. Old North State Trust LLC now owns 871 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 436 shares in the last quarter. Finally, Lenox Wealth Management Inc. lifted its position in shares of Schlumberger by 41.1% during the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 256 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.
SLB has been the topic of a number of recent analyst reports. Raymond James reissued a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. Morgan Stanley set a $51.00 price target on shares of Schlumberger and gave the company a “hold” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Bank of America reissued a “buy” rating and set a $51.00 price target (down from $60.00) on shares of Schlumberger in a research report on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $52.17.
NYSE SLB traded down $1.27 during trading hours on Wednesday, reaching $34.19. 7,231,833 shares of the company were exchanged, compared to its average volume of 9,670,741. Schlumberger Limited. has a 1 year low of $34.46 and a 1 year high of $67.31. The firm has a 50 day simple moving average of $39.11. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The company has a market cap of $51.75 billion, a PE ratio of 21.10, a P/E/G ratio of 2.35 and a beta of 1.44.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. As a group, equities analysts predict that Schlumberger Limited. will post 1.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a dividend yield of 5.85%. Schlumberger’s payout ratio is 123.46%.
In other news, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the transaction, the executive vice president now owns 130,000 shares in the company, valued at $5,060,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the transaction, the insider now owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
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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