Bridge Creek Capital Management LLC grew its stake in Schlumberger Limited. (NYSE:SLB) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,792 shares of the oil and gas company’s stock after acquiring an additional 1,222 shares during the period. Bridge Creek Capital Management LLC’s holdings in Schlumberger were worth $2,485,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mainstay Capital Management LLC ADV grew its position in shares of Schlumberger by 3,884.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock worth $105,000 after buying an additional 6,603 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Schlumberger by 909.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock worth $138,000 after buying an additional 20,137 shares during the period. SRS Capital Advisors Inc. grew its holdings in Schlumberger by 57.6% during the first quarter. SRS Capital Advisors Inc. now owns 2,323 shares of the oil and gas company’s stock valued at $150,000 after purchasing an additional 849 shares during the period. McKinley Carter Wealth Services Inc. acquired a new position in Schlumberger during the first quarter valued at approximately $154,000. Finally, Squar Milner Financial Services LLC acquired a new position in Schlumberger during the second quarter valued at approximately $157,000. 78.43% of the stock is owned by institutional investors.
Shares of SLB opened at $59.33 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.12. Schlumberger Limited. has a twelve month low of $58.30 and a twelve month high of $80.35. The company has a market capitalization of $84.32 billion, a price-to-earnings ratio of 39.55, a P/E/G ratio of 5.68 and a beta of 0.93.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The firm had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. Analysts anticipate that Schlumberger Limited. will post 1.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 5th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 4th. Schlumberger’s payout ratio is currently 133.33%.
In related news, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were purchased at an average price of $60.31 per share, with a total value of $482,480.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company’s stock.
SLB has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Schlumberger from $79.00 to $78.00 and set a “buy” rating for the company in a report on Monday, June 25th. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Piper Jaffray Companies restated a “buy” rating and set a $80.00 price objective on shares of Schlumberger in a report on Monday, July 23rd. Credit Suisse Group boosted their price objective on shares of Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Seaport Global Securities set a $72.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $78.90.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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