State Board of Administration of Florida Retirement System decreased its position in Schlumberger Limited. (NYSE:SLB) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,822,016 shares of the oil and gas company’s stock after selling 29,020 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of Schlumberger worth $72,407,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Chesley Taft & Associates LLC lifted its holdings in shares of Schlumberger by 2.1% during the second quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock valued at $854,000 after purchasing an additional 450 shares during the last quarter. BTC Capital Management Inc. lifted its holdings in shares of Schlumberger by 3.6% during the second quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock valued at $3,520,000 after purchasing an additional 3,056 shares during the last quarter. Griffin Asset Management Inc. lifted its holdings in shares of Schlumberger by 44.3% during the first quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock valued at $5,833,000 after purchasing an additional 41,076 shares during the last quarter. Manning & Napier Group LLC lifted its holdings in shares of Schlumberger by 4.6% during the second quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock valued at $136,608,000 after purchasing an additional 152,088 shares during the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. lifted its holdings in shares of Schlumberger by 31.2% during the first quarter. Taylor Cottrill Erickson & Associates Inc. now owns 31,794 shares of the oil and gas company’s stock valued at $1,385,000 after purchasing an additional 7,566 shares during the last quarter. Institutional investors and hedge funds own 77.19% of the company’s stock.
SLB stock traded down $0.19 during mid-day trading on Wednesday, hitting $33.71. The stock had a trading volume of 172,197 shares, compared to its average volume of 10,702,599. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. Schlumberger Limited. has a 1-year low of $31.11 and a 1-year high of $65.61. The company has a fifty day moving average of $37.70 and a 200 day moving average of $40.65. The stock has a market capitalization of $45.25 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.05 and a beta of 1.44.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The company had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period in the prior year, the firm posted $0.43 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger Limited. will post 1.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s payout ratio is currently 123.46%.
SLB has been the topic of several recent analyst reports. AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a research report on Thursday, June 20th. Bank of America reissued a “buy” rating and set a $51.00 price target (down from $60.00) on shares of Schlumberger in a research report on Tuesday, June 25th. Royal Bank of Canada dropped their price target on Schlumberger to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. SunTrust Banks upped their price target on Schlumberger to $53.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Schlumberger currently has an average rating of “Hold” and a consensus target price of $52.17.
In other news, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Cox sold 24,057 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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