VeraBank N.A. acquired a new position in shares of Schlumberger Limited. (NYSE:SLB) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,239 shares of the oil and gas company’s stock, valued at approximately $272,000.
Several other institutional investors and hedge funds also recently modified their holdings of SLB. CX Institutional boosted its position in shares of Schlumberger by 158.4% during the first quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock worth $28,000 after buying an additional 396 shares during the period. Berman Capital Advisors LLC acquired a new position in shares of Schlumberger during the fourth quarter worth approximately $31,000. Bruderman Asset Management LLC acquired a new position in shares of Schlumberger during the fourth quarter worth approximately $33,000. Sontag Advisory LLC acquired a new position in shares of Schlumberger during the fourth quarter worth approximately $36,000. Finally, Exane Asset Management acquired a new stake in Schlumberger in the fourth quarter worth approximately $37,000. Institutional investors own 77.85% of the company’s stock.
In other news, insider Alexander C. Juden sold 8,643 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $43.29, for a total value of $374,155.47. Following the transaction, the insider now directly owns 70,260 shares of the company’s stock, valued at $3,041,555.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Simon Ayat sold 25,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total transaction of $1,152,500.00. Following the completion of the transaction, the chief financial officer now directly owns 255,971 shares in the company, valued at $11,800,263.10. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
NYSE:SLB traded down $0.49 during trading hours on Friday, hitting $37.00. 7,505,570 shares of the stock traded hands, compared to its average volume of 10,188,704. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. Schlumberger Limited. has a fifty-two week low of $34.99 and a fifty-two week high of $70.47. The company has a market cap of $51.51 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31.
Schlumberger (NYSE:SLB) last announced its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. The company had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up .6% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited. will post 1.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Tuesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.
SLB has been the subject of a number of research analyst reports. SunTrust Banks upped their target price on Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group initiated coverage on Schlumberger in a research report on Sunday, March 10th. They issued a “buy” rating and a $55.00 target price for the company. Barclays cut their target price on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Raymond James restated a “hold” rating on shares of Schlumberger in a research report on Tuesday, April 2nd. Finally, Jefferies Financial Group downgraded Schlumberger from a “buy” rating to a “hold” rating and cut their target price for the stock from $50.00 to $45.00 in a research report on Friday, March 15th. Two 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. The stock presently has an average rating of “Hold” and a consensus price target of $57.16.
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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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