Industry News

Schlumberger Limited. (NYSE:SLB) Shares Acquired by Atria Investments LLC

By September 15, 2019 No Comments

Atria Investments LLC increased its holdings in Schlumberger Limited. (NYSE:SLB) by 46.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,994 shares of the oil and gas company’s stock after buying an additional 6,311 shares during the quarter. Atria Investments LLC’s holdings in Schlumberger were worth $332,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BTC Capital Management Inc. lifted its holdings in Schlumberger by 3.6% in 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 purchasing an additional 3,056 shares in the last quarter. Camarda Financial Advisors LLC lifted its holdings in Schlumberger by 7.4% in the 2nd quarter. Camarda Financial Advisors LLC now owns 47,628 shares of the oil and gas company’s stock valued at $1,893,000 after purchasing an additional 3,275 shares in the last quarter. Chesley Taft & Associates LLC lifted its holdings in Schlumberger by 2.1% in the 2nd quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock valued at $854,000 after purchasing an additional 450 shares in the last quarter. Griffin Asset Management Inc. lifted its holdings in Schlumberger by 44.3% in 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 purchasing an additional 41,076 shares in the last quarter. Finally, Manning & Napier Group LLC lifted its holdings in Schlumberger by 4.6% in 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 purchasing an additional 152,088 shares in the last quarter. Institutional investors and hedge funds own 76.94% of the company’s stock.

In other news, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the transaction, the executive vice president now directly owns 130,000 shares in the company, valued at approximately $5,060,900. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

A number of research analysts have weighed in on SLB shares. Gabelli started coverage on Schlumberger in a report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. Bank of America cut their target price on Schlumberger from $51.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Finally, Morgan Stanley raised Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 target price for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $51.05.

Shares of SLB traded up $0.43 during midday trading on Friday, hitting $37.33. The company had a trading volume of 8,141,783 shares, compared to its average volume of 11,683,430. The firm has a market capitalization of $51.61 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.63 and a beta of 1.49. Schlumberger Limited. has a 1 year low of $31.03 and a 1 year high of $63.65. The company’s 50-day simple moving average is $34.88 and its 200-day simple moving average is $39.40. 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 (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities analysts predict that Schlumberger Limited. will post 1.5 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s payout ratio is currently 123.46%.

Schlumberger 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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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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