Evanson Asset Management LLC raised its stake in shares of Schlumberger Limited. (NYSE:SLB) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,079 shares of the oil and gas company’s stock after purchasing an additional 1,500 shares during the period. Evanson Asset Management LLC’s holdings in Schlumberger were worth $515,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SLB. Quad Cities Investment Group LLC bought a new position in Schlumberger during the 2nd quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new position in Schlumberger during the 2nd quarter worth $32,000. Doyle Wealth Management bought a new position in Schlumberger during the 2nd quarter worth $33,000. Meridian Wealth Management LLC bought a new position in Schlumberger during the 1st quarter worth $38,000. Finally, Shamrock Asset Management LLC raised its position in Schlumberger by 49.6% during the 2nd quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 352 shares during the last quarter. 76.66% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the sale, the executive vice president now directly owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie Cox sold 24,057 shares of the business’s 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 completion of the sale, the insider now directly owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Several research analysts have recently weighed in on the company. Gabelli assumed coverage on Schlumberger in a research report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price objective for the company. Citigroup lowered their price objective on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Raymond James reissued a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. Finally, Wells Fargo & Co lowered their price objective on Schlumberger from $48.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $49.39.
Schlumberger stock traded up $1.74 during midday trading on Friday, reaching $32.81. The stock had a trading volume of 442,245 shares, compared to its average volume of 12,549,562. Schlumberger Limited. has a 12 month low of $30.65 and a 12 month high of $61.19. The company has a market capitalization of $42.47 billion, a P/E ratio of 20.24, a PEG ratio of 2.19 and a beta of 1.49. The company has a fifty day moving average price of $34.18 and a two-hundred day moving average price of $38.22. 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 (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The business had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same period in the previous year, the company posted $0.43 EPS. The firm’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger Limited. will post 1.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s payout ratio is 123.46%.
Schlumberger Company Profile
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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