Parsec Financial Management Inc. trimmed its position in Schlumberger Limited. (NYSE:SLB) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,585 shares of the oil and gas company’s stock after selling 4,559 shares during the quarter. Parsec Financial Management Inc.’s holdings in Schlumberger were worth $4,731,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its position in Schlumberger by 0.7% during the third quarter. Vanguard Group Inc now owns 108,726,647 shares of the oil and gas company’s stock worth $6,623,627,000 after buying an additional 735,605 shares in the last quarter. BlackRock Inc. raised its position in Schlumberger by 3.0% in the fourth quarter. BlackRock Inc. now owns 89,747,843 shares of the oil and gas company’s stock valued at $3,238,103,000 after purchasing an additional 2,571,883 shares during the period. Geode Capital Management LLC raised its position in 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 purchasing an additional 1,125,484 shares during the period. Norges Bank purchased a new stake in Schlumberger in the fourth quarter valued at $486,635,000. Finally, American Century Companies Inc. raised its position in Schlumberger by 15.5% in 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 period. Hedge funds and other institutional investors own 77.24% of the company’s stock.
SLB has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Tudor Pickering downgraded Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 target price on the stock. in a research report on Monday, April 22nd. Jefferies Financial Group downgraded Schlumberger from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $45.00 in a report on Friday, March 15th. 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. Finally, Stifel Nicolaus set a $50.00 price objective on Schlumberger and gave the company a “hold” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $55.78.
In other Schlumberger news, 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 transaction of $1,152,500.00. Following the completion of the sale, the chief financial officer now directly owns 255,971 shares of the company’s stock, valued at approximately $11,800,263.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Juden sold 8,643 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 70,260 shares of the company’s stock, valued at $3,041,555.40. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
Shares of NYSE:SLB traded down $0.32 on Wednesday, hitting $36.18. 9,779,403 shares of the company’s stock were exchanged, compared to its average volume of 9,265,992. The stock has a market cap of $50.56 billion, a P/E ratio of 22.33, a P/E/G ratio of 1.53 and a beta of 1.31. Schlumberger Limited. has a 1-year low of $34.99 and a 1-year high of $70.47. 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 (NYSE:SLB) last released its quarterly earnings data on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, equities research analysts predict that Schlumberger Limited. will post 1.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.53%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
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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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