CWM LLC decreased its stake in Schlumberger Limited. (NYSE:SLB) by 70.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,859 shares of the oil and gas company’s stock after selling 23,902 shares during the quarter. CWM LLC’s holdings in Schlumberger were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Schlumberger in the 4th quarter worth about $486,635,000. Two Sigma Advisers LP lifted its stake in Schlumberger by 139,145.2% in the 4th quarter. Two Sigma Advisers LP now owns 7,140,492 shares of the oil and gas company’s stock worth $257,629,000 after acquiring an additional 7,135,364 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Schlumberger by 3,478.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,436,967 shares of the oil and gas company’s stock worth $151,000 after acquiring an additional 5,285,050 shares in the last quarter. FMR LLC lifted its stake 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 acquiring an additional 2,841,792 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Schlumberger by 3.0% in the 4th quarter. BlackRock Inc. now owns 89,747,843 shares of the oil and gas company’s stock worth $3,238,103,000 after acquiring an additional 2,571,883 shares in the last quarter. Institutional investors and hedge funds own 79.29% of the company’s stock.
In other news, insider Alexander C. Juden sold 8,643 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $43.29, for a total transaction of $374,155.47. Following the completion of the transaction, the insider now directly owns 70,260 shares in the company, valued at $3,041,555.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Simon Ayat sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total value of $1,152,500.00. Following the transaction, the chief financial officer now owns 255,971 shares of the company’s stock, valued at $11,800,263.10. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
Several brokerages recently issued reports on SLB. Royal Bank of Canada reduced their price objective on Schlumberger to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Morgan Stanley set a $51.00 price objective on Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. Barclays reduced their price objective on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. BMO Capital Markets set a $44.00 price target on Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. Finally, SunTrust Banks raised their price target on Schlumberger to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Schlumberger presently has a consensus rating of “Hold” and an average price target of $57.16.
Shares of SLB stock traded down $1.16 during trading on Wednesday, reaching $38.34. The company had a trading volume of 7,334,077 shares, compared to its average volume of 10,197,703. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 1.35. Schlumberger Limited. has a one year low of $34.99 and a one year high of $73.47. The company has a market capitalization of $54.12 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.62 and a beta of 1.31.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The business had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the business earned $0.38 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited. will post 1.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Tuesday, June 4th. Schlumberger’s payout ratio is 123.46%.
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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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