Capital Investment Advisory Services LLC raised its stake in Schlumberger Limited. (NYSE:SLB) by 17.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,109 shares of the oil and gas company’s stock after acquiring an additional 600 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Schlumberger were worth $162,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Schlumberger by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after acquiring an additional 1,125,484 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Schlumberger by 9.7% in the first quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock valued at $595,174,000 after buying an additional 1,203,997 shares during the period. Fisher Asset Management LLC increased its stake in shares of Schlumberger by 6.4% in the second quarter. Fisher Asset Management LLC now owns 11,816,154 shares of the oil and gas company’s stock valued at $469,574,000 after buying an additional 709,200 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Schlumberger by 0.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,713,663 shares of the oil and gas company’s stock valued at $227,061,000 after buying an additional 45,809 shares during the period. Finally, Kiltearn Partners LLP increased its stake in shares of Schlumberger by 7.5% in the second quarter. Kiltearn Partners LLP now owns 4,974,860 shares of the oil and gas company’s stock valued at $197,701,000 after buying an additional 347,200 shares during the period. 77.19% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on SLB shares. Piper Jaffray Companies set a $40.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 1st. AltaCorp Capital reaffirmed an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, June 7th. Gabelli started coverage on Schlumberger in a research note on Thursday, June 27th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Two investment 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. Schlumberger has an average rating of “Hold” and an average target price of $51.83.
In other 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 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 approximately $1,881,508.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick Schorn sold 12,151 shares of the firm’s 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 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. Corporate insiders own 0.48% of the company’s stock.
NYSE:SLB opened at $32.43 on Friday. The company has a market capitalization of $44.85 billion, a PE ratio of 20.02, a P/E/G ratio of 1.96 and a beta of 1.44. The company has a 50 day simple moving average of $36.22 and a two-hundred day simple moving average of $40.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. Schlumberger Limited. has a fifty-two week low of $31.03 and a fifty-two week high of $65.08.
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, meeting analysts’ consensus estimates of $0.35. The business had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. Research analysts predict that Schlumberger Limited. will post 1.51 EPS for the current year.
The company 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. This represents a $2.00 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is presently 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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