Banco Santander S.A. increased its stake in Schlumberger Limited. (NYSE:SLB) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,045 shares of the oil and gas company’s stock after buying an additional 5,089 shares during the period. Banco Santander S.A.’s holdings in Schlumberger were worth $3,936,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of SLB. BTC Capital Management Inc. raised its stake in 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 worth $3,520,000 after acquiring an additional 3,056 shares in the last quarter. Camarda Financial Advisors LLC increased its position in Schlumberger by 7.4% in the second quarter. Camarda Financial Advisors LLC now owns 47,628 shares of the oil and gas company’s stock worth $1,893,000 after purchasing an additional 3,275 shares during the period. Chesley Taft & Associates LLC increased its position in Schlumberger by 2.1% in the second quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock worth $854,000 after purchasing an additional 450 shares during the period. Griffin Asset Management Inc. increased its position in Schlumberger by 44.3% in the first quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock worth $5,833,000 after purchasing an additional 41,076 shares during the period. Finally, Manning & Napier Group LLC increased its position in Schlumberger by 4.6% in the second quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock worth $136,608,000 after purchasing an additional 152,088 shares during the period. Institutional investors and hedge funds own 76.94% of the company’s stock.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the sale, the insider now owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger 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 sale, the executive vice president now directly owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.
Shares of SLB stock traded up $1.04 during trading hours on Wednesday, reaching $32.76. The company had a trading volume of 3,035,513 shares, compared to its average volume of 10,623,198. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 2.28 and a beta of 1.49. The business has a fifty day simple moving average of $35.54 and a 200-day simple moving average of $39.83. Schlumberger Limited. has a 12 month low of $31.03 and a 12 month high of $63.65.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate 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 the consensus estimate of $8.11 billion. During the same period last year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts expect that Schlumberger Limited. will post 1.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.11%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
A number of brokerages have issued reports on SLB. Raymond James restated a “hold” rating on shares of Schlumberger in a report on Friday, June 21st. Gabelli started coverage on Schlumberger in a research note on Thursday, June 27th. They issued a “buy” rating and a $55.00 target price on the stock. Royal Bank of Canada cut their target price on Schlumberger to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. 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. Finally, JPMorgan Chase & Co. decreased their target price on Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.83.
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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