Eastern Bank reduced its holdings in Schlumberger Limited. (NYSE:SLB) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,512 shares of the oil and gas company’s stock after selling 691 shares during the quarter. Eastern Bank’s holdings in Schlumberger were worth $2,461,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SLB. Harding Loevner LP grew its holdings in Schlumberger by 1,337.3% during the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after acquiring an additional 129,289,552 shares during the last quarter. Dodge & Cox boosted its stake in Schlumberger by 12.8% during the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after acquiring an additional 5,494,165 shares during the last quarter. Capital International Investors raised its holdings in Schlumberger by 74.8% during the 3rd quarter. Capital International Investors now owns 10,031,514 shares of the oil and gas company’s stock worth $699,798,000 after buying an additional 4,294,058 shares during the period. American Century Companies Inc. raised its holdings in Schlumberger by 33.5% during the 2nd quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock worth $731,990,000 after buying an additional 2,791,675 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Schlumberger by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock worth $6,519,670,000 after buying an additional 2,790,227 shares during the period. Institutional investors and hedge funds own 80.01% of the company’s stock.
Shares of Schlumberger Limited. (SLB) traded down $0.71 on Wednesday, reaching $66.43. The company’s stock had a trading volume of 5,814,150 shares, compared to its average volume of 9,131,237. The firm has a market cap of $92,420.00, a PE ratio of -58.53, a P/E/G ratio of 5.25 and a beta of 1.03. Schlumberger Limited. has a 12 month low of $61.02 and a 12 month high of $80.89. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The business had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same quarter last year, the business posted $0.27 EPS. The company’s revenue was up 15.1% on a year-over-year basis. equities research analysts predict that Schlumberger Limited. will post 2.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a yield of 3.01%. Schlumberger’s dividend payout ratio (DPR) is currently -175.44%.
In other Schlumberger news, insider Howard Guild sold 25,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the transaction, the insider now directly owns 22,410 shares in the company, valued at $1,753,806.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Simon Ayat sold 75,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total value of $5,914,500.00. Following the transaction, the chief financial officer now owns 138,827 shares in the company, valued at $10,947,897.22. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
SLB has been the topic of a number of recent research reports. Royal Bank of Canada set a $73.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Thursday, December 21st. UBS Group set a $95.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, January 22nd. Zacks Investment Research cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, Cowen set a $85.00 target price on Schlumberger and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Schlumberger presently has a consensus rating of “Buy” and an average price target of $81.59.
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Schlumberger Company Profile
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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