Palo Capital Inc. lowered its position in shares of Schlumberger Limited. (NYSE:SLB) by 77.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,582 shares of the oil and gas company’s stock after selling 29,892 shares during the quarter. Palo Capital Inc.’s holdings in Schlumberger were worth $578,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLB. Aviance Capital Management LLC acquired a new stake in shares of Schlumberger during the second quarter valued at approximately $100,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Schlumberger during the 2nd quarter worth $107,000. Jacobi Capital Management LLC boosted its holdings in Schlumberger by 95.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 1,000 shares during the period. Atlantic Trust LLC bought a new stake in Schlumberger in the 2nd quarter valued at $137,000. Finally, Legacy Advisors LLC bought a new stake in Schlumberger in the 3rd quarter valued at $146,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.
Schlumberger Limited. (NYSE:SLB) traded down $0.71 during trading 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 company has a market capitalization of $92,420.00, a P/E ratio of -58.53, a price-to-earnings-growth ratio of 5.25 and a beta of 1.03. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. Schlumberger Limited. has a twelve month low of $61.02 and a twelve month high of $80.89.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $8.12 billion. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. equities analysts expect that Schlumberger Limited. will post 2.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, February 6th. Schlumberger’s payout ratio is -175.44%.
A number of brokerages have recently issued reports on SLB. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Jefferies Group set a $78.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Thursday, January 4th. B. Riley set a $80.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Wednesday, January 3rd. SunTrust Banks lifted their price objective on shares of Schlumberger from $72.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Finally, Zacks Investment Research downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Schlumberger has a consensus rating of “Buy” and an average price target of $81.59.
In other news, CFO Simon Ayat sold 75,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 138,827 shares in the company, valued at $10,947,897.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Howard Guild sold 25,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the transaction, the insider now owns 22,410 shares in the company, valued at $1,753,806.60. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
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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