Merriman Wealth Management LLC reduced its stake in shares of Schlumberger Limited. (NYSE:SLB) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,585 shares of the oil and gas company’s stock after selling 5,235 shares during the quarter. Schlumberger makes up approximately 1.0% of Merriman Wealth Management LLC’s portfolio, making the stock its 29th largest position. Merriman Wealth Management LLC’s holdings in Schlumberger were worth $4,157,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Aviance Capital Management LLC bought a new position in Schlumberger during the second quarter worth $100,000. Mountain Capital Investment Advisors Inc bought a new position in Schlumberger during the second quarter worth $107,000. Tradewinds Capital Management LLC increased its position in Schlumberger by 22.3% during the second quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 298 shares during the period. Jacobi Capital Management LLC increased its position in Schlumberger by 95.8% during the second quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,000 shares during the period. Finally, Atlantic Trust LLC bought a new position in Schlumberger during the second quarter worth $137,000. Institutional investors and hedge funds own 79.31% of the company’s stock.
Shares of Schlumberger Limited. (NYSE SLB) traded up $0.92 during midday trading on Friday, reaching $77.97. 9,138,200 shares of the company traded hands, compared to its average volume of 9,350,000. The firm has a market cap of $108,010.00, a P/E ratio of 199.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Schlumberger Limited. has a 1-year low of $61.02 and a 1-year high of $87.84.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The business had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. research analysts predict that Schlumberger Limited. will post 1.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.57%. Schlumberger’s payout ratio is presently 512.82%.
In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $93,945. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.
SLB has been the topic of a number of research reports. Jefferies Group set a $78.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Thursday, January 4th. Loop Capital dropped their target price on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Scotiabank set a $80.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Saturday, October 21st. Royal Bank of Canada set a $86.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Saturday, October 7th. Finally, Citigroup boosted their price target on shares of Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $79.56.
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.
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