CI Investments Inc. raised its stake in shares of Schlumberger Limited. (NYSE:SLB) by 41.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 756,840 shares of the oil and gas company’s stock after purchasing an additional 221,700 shares during the period. CI Investments Inc. owned 0.05% of Schlumberger worth $46,107,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Guyasuta Investment Advisors Inc. lifted its position in Schlumberger by 0.5% in the second quarter. Guyasuta Investment Advisors Inc. now owns 165,349 shares of the oil and gas company’s stock worth $11,083,000 after purchasing an additional 809 shares during the period. Securian Asset Management Inc lifted its position in Schlumberger by 0.6% in the second quarter. Securian Asset Management Inc now owns 139,962 shares of the oil and gas company’s stock worth $9,382,000 after purchasing an additional 841 shares during the period. Covenant Multifamily Offices LLC lifted its position in Schlumberger by 2.3% in the second quarter. Covenant Multifamily Offices LLC now owns 39,569 shares of the oil and gas company’s stock worth $2,652,000 after purchasing an additional 904 shares during the period. Perennial Advisors LLC lifted its position in Schlumberger by 5.4% in the second quarter. Perennial Advisors LLC now owns 17,938 shares of the oil and gas company’s stock worth $1,202,000 after purchasing an additional 916 shares during the period. Finally, Founders Capital Management lifted its position in Schlumberger by 3.0% in the third quarter. Founders Capital Management now owns 32,689 shares of the oil and gas company’s stock worth $1,991,000 after purchasing an additional 960 shares during the period. Institutional investors own 77.71% of the company’s stock.
Shares of NYSE SLB opened at $39.05 on Tuesday. The firm has a market cap of $54.15 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 3.94 and a beta of 1.04. Schlumberger Limited. has a 52-week low of $38.81 and a 52-week high of $80.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited. will post 1.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 5th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.12%. Schlumberger’s payout ratio is presently 133.33%.
In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the transaction, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by company insiders.
Several research analysts recently commented on the company. Barclays set a $58.00 target price on Schlumberger and gave the stock a “hold” rating in a research report on Monday, December 10th. JPMorgan Chase & Co. cut Schlumberger from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $73.00 to $48.00 in a research report on Tuesday, December 11th. Jefferies Financial Group reduced their target price on Schlumberger to $54.00 and set a “buy” rating for the company in a research report on Thursday, December 6th. Zacks Investment Research raised Schlumberger from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, Bank of America reaffirmed a “buy” rating and issued a $52.00 target price (down from $69.00) on shares of Schlumberger in a research report on Monday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $72.47.
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Schlumberger Company Profile
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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