Watch Point Trust Co reduced its stake in Schlumberger Limited. (NYSE:SLB) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,391 shares of the oil and gas company’s stock after selling 10,717 shares during the period. Watch Point Trust Co’s holdings in Schlumberger were worth $2,146,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in SLB. State of Michigan Retirement System lifted its position in shares of Schlumberger by 0.7% in the fourth quarter. State of Michigan Retirement System now owns 334,772 shares of the oil and gas company’s stock worth $13,458,000 after buying an additional 2,300 shares in the last quarter. CWM Advisors LLC grew its holdings in Schlumberger by 3.8% during the 4th quarter. CWM Advisors LLC now owns 31,530 shares of the oil and gas company’s stock valued at $1,267,000 after buying an additional 1,145 shares in the last quarter. Argyle Capital Management Inc. grew its holdings in Schlumberger by 5.3% during the 4th quarter. Argyle Capital Management Inc. now owns 45,000 shares of the oil and gas company’s stock valued at $1,809,000 after buying an additional 2,250 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Schlumberger by 0.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 173,080 shares of the oil and gas company’s stock worth $6,957,000 after acquiring an additional 485 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Schlumberger by 6.4% during the 4th quarter. Sumitomo Life Insurance Co. now owns 44,243 shares of the oil and gas company’s stock worth $1,779,000 after acquiring an additional 2,646 shares in the last quarter. Institutional investors and hedge funds own 76.52% of the company’s stock.
NYSE SLB traded down $0.66 on Friday, hitting $35.77. 10,149,053 shares of the stock were exchanged, compared to its average volume of 10,614,677. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 1.19. Schlumberger Limited. has a 52-week low of $30.65 and a 52-week high of $48.88. The firm has a market capitalization of $50.44 billion, a P/E ratio of -4.88, a P/E/G ratio of 2.15 and a beta of 1.59. The stock has a fifty day moving average price of $39.13 and a two-hundred day moving average price of $36.39.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Schlumberger had a negative net margin of 30.80% and a positive return on equity of 6.77%. The firm had revenue of $8.23 billion during the quarter, compared to analyst estimates of $8.16 billion. During the same quarter last year, the business earned $0.36 EPS. The business’s revenue was up .6% on a year-over-year basis. Sell-side analysts expect that Schlumberger Limited. will post 1.6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, February 12th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Tuesday, February 11th. Schlumberger’s dividend payout ratio (DPR) is currently 136.05%.
A number of research analysts have recently commented on SLB shares. Credit Suisse Group reiterated a “hold” rating and set a $36.00 target price on shares of Schlumberger in a research report on Wednesday. Stifel Nicolaus boosted their price target on shares of Schlumberger from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Bernstein Bank initiated coverage on shares of Schlumberger in a research note on Tuesday, January 14th. They set an “underperform” rating and a $27.10 price target on the stock. Cowen lowered shares of Schlumberger from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $44.00 to $42.00 in a research report on Tuesday. Finally, ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $42.71.
In other Schlumberger news, EVP Patrick Schorn sold 65,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $35.89, for a total value of $2,332,850.00. Following the completion of the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at $1,794,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Saul R. Laureles sold 4,350 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.72, for a total transaction of $151,032.00. The disclosure for this sale can be found here. In the last three months, insiders sold 99,735 shares of company stock valued at $3,594,864. 0.48% of the stock is owned by insiders.
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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