Smithbridge Asset Management Inc. DE grew its stake in shares of Schlumberger Limited. (NYSE:SLB) by 19.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,347 shares of the oil and gas company’s stock after buying an additional 3,365 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Schlumberger were worth $809,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Schlumberger by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after purchasing an additional 1,125,484 shares during the last quarter. Clearbridge Investments LLC grew its position in Schlumberger by 9.7% in the 1st quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock worth $595,174,000 after purchasing an additional 1,203,997 shares during the last quarter. Norges Bank bought a new position in Schlumberger in the 4th quarter worth about $486,635,000. American Century Companies Inc. grew its position in Schlumberger by 15.5% in the 4th quarter. American Century Companies Inc. now owns 11,801,880 shares of the oil and gas company’s stock worth $425,812,000 after purchasing an additional 1,583,692 shares during the last quarter. Finally, FMR LLC grew its position in Schlumberger by 53.5% in the 4th quarter. FMR LLC now owns 8,150,451 shares of the oil and gas company’s stock worth $294,067,000 after purchasing an additional 2,841,792 shares during the last quarter. 77.22% of the stock is owned by institutional investors.
Several research firms have recently issued reports on SLB. Royal Bank of Canada decreased their price objective on shares of Schlumberger to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Piper Jaffray Companies set a $40.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, July 1st. SunTrust Banks increased their target price on shares of Schlumberger to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Bank of America reissued a “buy” rating and set a $51.00 target price (down from $60.00) on shares of Schlumberger in a research note on Tuesday, June 25th. Finally, AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $52.17.
NYSE:SLB traded up $1.07 during midday trading on Friday, reaching $32.72. The stock had a trading volume of 13,474,129 shares, compared to its average volume of 10,265,224. 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 stock has a market capitalization of $47.89 billion, a P/E ratio of 20.20, a PEG ratio of 2.17 and a beta of 1.44. The firm’s fifty day simple moving average is $38.21 and its 200-day simple moving average is $40.81. Schlumberger Limited. has a 1-year low of $31.11 and a 1-year high of $65.61.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (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 net margin of 6.38% and a return on equity of 5.62%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. On average, equities research analysts anticipate that Schlumberger Limited. will post 1.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s payout ratio is 123.46%.
In related news, insider Stephanie Cox sold 24,057 shares of Schlumberger 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 transaction, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the sale, the executive vice president now 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 company insiders.
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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