Los Angeles Capital Management & Equity Research Inc. raised its holdings in Schlumberger Limited. (NYSE:SLB) by 31.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 445,877 shares of the oil and gas company’s stock after purchasing an additional 107,660 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Schlumberger were worth $19,427,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. MUFG Securities EMEA plc raised its position in Schlumberger by 144.0% in the fourth quarter. MUFG Securities EMEA plc now owns 237,926 shares of the oil and gas company’s stock valued at $8,584,000 after purchasing an additional 140,403 shares during the period. Lee Danner & Bass Inc. raised its holdings in shares of Schlumberger by 11.4% in the 4th quarter. Lee Danner & Bass Inc. now owns 128,987 shares of the oil and gas company’s stock valued at $4,654,000 after buying an additional 13,203 shares during the period. Meyer Handelman Co. raised its holdings in shares of Schlumberger by 3.5% in the 4th quarter. Meyer Handelman Co. now owns 216,869 shares of the oil and gas company’s stock valued at $7,825,000 after buying an additional 7,328 shares during the period. Washington Capital Management Inc. raised its holdings in shares of Schlumberger by 11.3% in the 4th quarter. Washington Capital Management Inc. now owns 28,700 shares of the oil and gas company’s stock valued at $1,035,000 after buying an additional 2,910 shares during the period. Finally, Cerebellum GP LLC raised its holdings in shares of Schlumberger by 131.0% in the 4th quarter. Cerebellum GP LLC now owns 7,074 shares of the oil and gas company’s stock valued at $255,000 after buying an additional 4,011 shares during the period. 77.24% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on SLB shares. SunTrust Banks boosted their price objective on Schlumberger to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Goldman Sachs Group started coverage on Schlumberger in a report on Sunday, March 10th. They issued a “buy” rating and a $55.00 price objective on the stock. Barclays lowered their target price 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. Raymond James reissued a “hold” rating on shares of Schlumberger in a research note on Tuesday, April 2nd. Finally, Jefferies Financial Group cut Schlumberger from a “buy” rating to a “hold” rating and lowered their target price for the stock from $50.00 to $45.00 in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. Schlumberger presently has a consensus rating of “Hold” and an average target price of $55.78.
Shares of NYSE SLB traded down $0.32 during trading hours on Wednesday, reaching $36.18. The stock had a trading volume of 9,779,403 shares, compared to its average volume of 9,265,992. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. The stock has a market cap of $50.56 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. Schlumberger Limited. has a fifty-two week low of $34.99 and a fifty-two week high of $70.47.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Thursday, April 18th. The oil and gas company reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $7.88 billion during the quarter, compared to the consensus estimate of $7.82 billion. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Sell-side analysts anticipate that Schlumberger Limited. will post 1.57 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date is Tuesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is 123.46%.
In related 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 value of $374,155.47. Following the sale, the insider now owns 70,260 shares in the company, valued at approximately $3,041,555.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the chief financial officer now owns 255,971 shares in the company, valued at approximately $11,800,263.10. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
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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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