Boston Partners trimmed its position in Schlumberger Limited. (NYSE:SLB) by 49.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,808 shares of the oil and gas company’s stock after selling 33,142 shares during the period. Boston Partners’ holdings in Schlumberger were worth $1,344,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of SLB. Cornerstone Advisors Inc. raised its holdings in Schlumberger by 73.3% during the first quarter. Cornerstone Advisors Inc. now owns 1,629 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 689 shares in the last quarter. BP PLC increased its holdings in shares of Schlumberger by 25.2% in the first quarter. BP PLC now owns 179,000 shares of the oil and gas company’s stock valued at $7,801,000 after buying an additional 36,000 shares in the last quarter. Peak Asset Management LLC increased its holdings in shares of Schlumberger by 12.2% in the first quarter. Peak Asset Management LLC now owns 8,854 shares of the oil and gas company’s stock valued at $386,000 after buying an additional 960 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Schlumberger by 0.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 56,106 shares of the oil and gas company’s stock valued at $2,445,000 after buying an additional 364 shares in the last quarter. Finally, Vaughan David Investments LLC IL increased its holdings in shares of Schlumberger by 30.1% in the first quarter. Vaughan David Investments LLC IL now owns 335,666 shares of the oil and gas company’s stock valued at $14,625,000 after buying an additional 77,694 shares in the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.
Several research firms have issued reports on SLB. Barclays raised Schlumberger from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $45.00 to $50.00 in a report on Monday, September 16th. Wells Fargo & Co dropped their price target on Schlumberger from $48.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Piper Jaffray Companies set a $40.00 price target on Schlumberger and gave the company a “buy” rating in a report on Monday, July 1st. Gabelli began coverage on Schlumberger in a report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, ValuEngine raised Schlumberger from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Schlumberger presently has an average rating of “Buy” and an average price target of $49.39.
In related news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now directly owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction that occurred on 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 directly owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Shares of Schlumberger stock traded up $1.41 on Friday, hitting $32.48. 11,376,122 shares of the company traded hands, compared to its average volume of 12,270,450. The company has a 50-day moving average price of $34.16 and a 200 day moving average price of $38.17. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. Schlumberger Limited. has a 12-month low of $30.65 and a 12-month high of $61.19. The company has a market cap of $42.73 billion, a PE ratio of 20.05, a PEG ratio of 2.37 and a beta of 1.49.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Equities research analysts anticipate that Schlumberger Limited. will post 1.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend was Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
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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