Everence Capital Management Inc. Acquires New Holdings in Schlumberger Limited (NYSE:SLB)


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Everence Capital Management Inc. acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 91,656 shares of the oil and gas company’s stock, valued at approximately $2,492,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Canandaigua National Corp lifted its position in shares of Schlumberger by 8.7% in the first quarter. Canandaigua National Corp now owns 11,533 shares of the oil and gas company’s stock worth $314,000 after purchasing an additional 922 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of Schlumberger in the first quarter worth $318,000. Park National Corp OH increased its holdings in Schlumberger by 19.1% during the first quarter. Park National Corp OH now owns 398,988 shares of the oil and gas company’s stock worth $10,848,000 after buying an additional 64,078 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new position in Schlumberger during the fourth quarter worth $729,000. Finally, Alpha DNA Investment Management LLC acquired a new position in Schlumberger during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

Several equities analysts have commented on SLB shares. Bank of America upgraded shares of Schlumberger from a “neutral” rating to a “buy” rating and upped their price objective for the company from $27.00 to $31.00 in a report on Monday, January 25th. Argus upped their price objective on shares of Schlumberger from $24.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 26th. HSBC downgraded shares of Schlumberger from a “hold” rating to a “reduce” rating and set a $18.10 price target on the stock. in a research note on Thursday, December 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Schlumberger from $25.00 to $30.00 in a research note on Tuesday, December 15th. Finally, Griffin Securities restated a “buy” rating on shares of Schlumberger in a research note on Tuesday, January 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Schlumberger has an average rating of “Buy” and a consensus target price of $24.68.

Shares of SLB stock traded down $0.38 on Thursday, reaching $26.97. The company had a trading volume of 463,064 shares, compared to its average volume of 14,422,865. The stock has a market capitalization of $37.71 billion, a PE ratio of -3.59, a price-to-earnings-growth ratio of 5.77 and a beta of 2.28. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 1.33. Schlumberger Limited has a one year low of $13.70 and a one year high of $30.41. The business’s 50-day moving average is $27.97 and its 200 day moving average is $22.33.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Thursday, January 21st. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.23 billion. Schlumberger had a negative net margin of 40.15% and a positive return on equity of 7.34%. During the same quarter last year, the business earned $0.39 EPS. On average, sell-side analysts forecast that Schlumberger Limited will post 0.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 8th. Investors of record on Wednesday, February 17th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, February 16th. This represents a $0.50 dividend on an annualized basis and a yield of 1.85%. Schlumberger’s dividend payout ratio (DPR) is presently 34.01%.

In other Schlumberger news, CAO Howard Guild sold 10,000 shares of the stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $24.96, for a total transaction of $249,600.00. Following the completion of the sale, the chief accounting officer now owns 44,463 shares of the company’s stock, valued at approximately $1,109,796.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. It operates in four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company 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; and petro technical data services and training solutions.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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