Tufton Capital Management cut its stake in shares of Schlumberger Limited. (NYSE:SLB) by 12.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,843 shares of the oil and gas company’s stock after selling 1,255 shares during the quarter. Tufton Capital Management’s holdings in Schlumberger were worth $351,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. CX Institutional raised its position in Schlumberger by 158.4% in the first quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 396 shares in the last quarter. Quad Cities Investment Group LLC purchased a new position in Schlumberger in the second quarter worth $32,000. Old North State Trust LLC raised its position in Schlumberger by 100.2% in the first quarter. Old North State Trust LLC now owns 871 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 436 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Schlumberger in the first quarter worth $38,000. Finally, Lenox Wealth Management Inc. raised its position in Schlumberger by 41.1% in the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 256 shares in the last quarter. 77.24% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the company. BMO Capital Markets set a $44.00 price objective on Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. Morgan Stanley set a $51.00 price objective on Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. Tudor Pickering cut Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price objective for the company. in a research report on Monday, April 22nd. Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, June 7th. Finally, SunTrust Banks increased their price objective on Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $52.17.
In related news, 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 sale, the insider now owns 46,354 shares in the company, valued at approximately $1,881,508.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the sale, the executive vice president now owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Shares of SLB stock traded down $1.45 during mid-day trading on Wednesday, reaching $34.01. The stock had a trading volume of 6,822,908 shares, compared to its average volume of 9,670,741. Schlumberger Limited. has a 12-month low of $34.46 and a 12-month high of $67.31. The firm has a market capitalization of $51.75 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.35 and a beta of 1.44. The firm’s 50-day moving average is $39.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. On average, equities analysts forecast that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is presently 123.46%.
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.
See Also: Accumulation/Distribution
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