Barrett Asset Management LLC lessened its holdings in Schlumberger Limited. (NYSE:SLB) by 29.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,987 shares of the oil and gas company’s stock after selling 66,196 shares during the quarter. Barrett Asset Management LLC’s holdings in Schlumberger were worth $6,199,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Chesley Taft & Associates LLC grew its position in Schlumberger by 2.1% during the 2nd 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. BTC Capital Management Inc. grew its position in shares of Schlumberger by 3.6% during the 2nd quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock valued at $3,520,000 after acquiring an additional 3,056 shares during the period. Griffin Asset Management Inc. grew its position in shares of Schlumberger by 44.3% during the 1st quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock valued at $5,833,000 after acquiring an additional 41,076 shares during the period. Manning & Napier Group LLC grew its position in shares of Schlumberger by 4.6% during the 2nd quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock valued at $136,608,000 after acquiring an additional 152,088 shares during the period. Finally, Taylor Cottrill Erickson & Associates Inc. grew its position in shares of Schlumberger by 31.2% during the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 31,794 shares of the oil and gas company’s stock valued at $1,385,000 after acquiring an additional 7,566 shares during the period. 77.19% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on SLB. Raymond James restated a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, June 7th. Piper Jaffray Companies set a $40.00 price objective on Schlumberger and gave the stock a “buy” rating in a report on Monday, July 1st. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, AltaCorp Capital reiterated an “outperform” rating on shares of Schlumberger in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.17.In other news, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were 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 in the company, valued at $5,060,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were 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 in the company, valued at $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
SLB traded down $0.54 on Tuesday, hitting $31.35. 328,984 shares of the company were exchanged, compared to its average volume of 10,675,213. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. The business’s fifty day moving average is $36.89 and its 200 day moving average is $40.28. Schlumberger Limited. has a fifty-two week low of $31.11 and a fifty-two week high of $65.57. The firm has a market capitalization of $44.30 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.44.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts forecast that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 6.38%. Schlumberger’s payout ratio is currently 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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