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 boosted 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 valued at $593,754,000 after acquiring an additional 1,125,484 shares in the last quarter. Clearbridge Investments LLC boosted its holdings 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 acquiring an additional 1,203,997 shares in the last quarter. Norges Bank acquired a new stake in Schlumberger during the fourth quarter valued at approximately $486,635,000. American Century Companies Inc. lifted its stake in Schlumberger by 15.5% during the fourth quarter. American Century Companies Inc. now owns 11,801,880 shares of the oil and gas company’s stock valued at $425,812,000 after purchasing an additional 1,583,692 shares during the last quarter. Finally, FMR LLC lifted its stake in Schlumberger by 53.5% during the fourth quarter. FMR LLC now owns 8,150,451 shares of the oil and gas company’s stock valued at $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.
Shares of NYSE:SLB traded up $1.07 during midday trading on Friday, reaching $32.72. 13,474,129 shares of the company’s stock were exchanged, compared to its average volume of 10,265,224. The company’s 50 day simple moving average is $38.21 and its two-hundred day simple moving average is $40.81. The firm has a market capitalization of $47.89 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.17 and a beta of 1.44. Schlumberger Limited. has a 12 month low of $31.11 and a 12 month high of $65.61. 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 data on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The company 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 firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. On average, research analysts anticipate that Schlumberger Limited. will post 1.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.11%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is 123.46%.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction that occurred on Thursday, July 25th. The shares were 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 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 Schlumberger stock in a transaction that occurred on 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 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. 0.48% of the stock is owned by insiders.
Several research firms recently commented on SLB. AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Morgan Stanley set a $51.00 price target on shares of Schlumberger and gave the company a “hold” rating in a research report on Monday, April 22nd. Stifel Nicolaus upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, June 7th. Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Raymond James reiterated a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $52.17.
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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