Glynn Capital Management LLC grew its holdings in Schlumberger Limited. (NYSE:SLB) by 45.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,014 shares of the oil and gas company’s stock after acquiring an additional 11,211 shares during the period. Glynn Capital Management LLC’s holdings in Schlumberger were worth $1,431,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in SLB. Geode Capital Management LLC boosted its holdings in Schlumberger by 7.3% during 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 buying an additional 1,125,484 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Schlumberger by 9.7% during the first quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock worth $595,174,000 after buying an additional 1,203,997 shares in the last quarter. Fisher Asset Management LLC raised its position in Schlumberger by 6.4% during the second quarter. Fisher Asset Management LLC now owns 11,816,154 shares of the oil and gas company’s stock worth $469,574,000 after acquiring an additional 709,200 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Schlumberger by 0.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,713,663 shares of the oil and gas company’s stock worth $227,061,000 after acquiring an additional 45,809 shares during the period. Finally, Kiltearn Partners LLP raised its position in Schlumberger by 7.5% during the second quarter. Kiltearn Partners LLP now owns 4,974,860 shares of the oil and gas company’s stock worth $197,701,000 after acquiring an additional 347,200 shares during the period. 77.22% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction dated 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 directly owns 46,354 shares in the company, valued at $1,881,508.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction dated 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 owns 130,000 shares of the company’s stock, valued at $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.A number of research firms have weighed in on SLB. AltaCorp Capital restated an “outperform” rating on shares of Schlumberger in a research report on Thursday, June 20th. Bank of America restated a “buy” rating and set a $51.00 price objective (down from $60.00) on shares of Schlumberger in a research report on Tuesday, June 25th. Royal Bank of Canada reduced their price objective on shares of Schlumberger to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. SunTrust Banks upped their price objective on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Piper Jaffray Companies set a $40.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 1st. Two 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. Schlumberger currently has an average rating of “Hold” and a consensus price target of $52.17.
Shares of NYSE SLB opened at $32.72 on Friday. The firm has a 50-day simple moving average of $38.21 and a 200-day simple moving average of $40.81. The stock has a market capitalization of $43.77 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44. 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 52 week low of $31.11 and a 52 week high of $65.61.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. The business had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. As a group, equities research analysts expect that Schlumberger Limited. will post 1.51 EPS for the current year.
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is 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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