Blume Capital Management Inc. lifted its holdings in Schlumberger Limited (NYSE:SLB) by 2.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 34,600 shares of the oil and gas company’s stock after buying an additional 900 shares during the period. Blume Capital Management Inc.’s holdings in Schlumberger were worth $1,108,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SLB. Victory Capital Management Inc. boosted its stake in shares of Schlumberger by 8.8% during the 1st quarter. Victory Capital Management Inc. now owns 520,367 shares of the oil and gas company’s stock worth $14,148,000 after purchasing an additional 42,278 shares during the period. Commonwealth Equity Services LLC boosted its position in Schlumberger by 4.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 179,073 shares of the oil and gas company’s stock valued at $4,869,000 after buying an additional 6,818 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in Schlumberger by 14.2% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 647,715 shares of the oil and gas company’s stock valued at $17,611,000 after buying an additional 80,702 shares during the period. Associated Banc Corp boosted its position in Schlumberger by 91.1% in the 1st quarter. Associated Banc Corp now owns 107,684 shares of the oil and gas company’s stock valued at $1,453,000 after buying an additional 51,326 shares during the period. Finally, Middleton & Co Inc MA purchased a new stake in Schlumberger in the 1st quarter valued at about $287,000. 76.26% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on SLB shares. Cowen reissued an “outperform” rating and issued a $29.03 price objective (down from $32.00) on shares of Schlumberger in a research report on Monday, July 26th. Morgan Stanley boosted their price objective on shares of Schlumberger from $32.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, July 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Schlumberger in a research report on Thursday, September 9th. TheStreet raised shares of Schlumberger from a “d+” rating to a “c-” rating in a research report on Thursday, June 10th. Finally, HSBC raised shares of Schlumberger from a “reduce” rating to a “hold” rating and upped their price target for the stock from $18.10 to $25.00 in a research report on Wednesday, August 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $29.84.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.52 billion. Schlumberger had a net margin of 4.72% and a return on equity of 9.96%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. Equities research analysts anticipate that Schlumberger Limited will post 1.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 7th. Stockholders of record on Wednesday, September 1st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, August 31st. Schlumberger’s dividend payout ratio (DPR) is 73.53%.
Schlumberger Company Profile
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.
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