Investec Asset Management LTD reduced its position in shares of Schlumberger Limited. (NYSE:SLB) by 52.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,932 shares of the oil and gas company’s stock after selling 109,667 shares during the period. Investec Asset Management LTD’s holdings in Schlumberger were worth $6,765,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Delek Group Ltd. purchased a new position in Schlumberger in the fourth quarter valued at approximately $100,000. SRS Capital Advisors Inc. raised its holdings in Schlumberger by 57.6% in the first quarter. SRS Capital Advisors Inc. now owns 2,323 shares of the oil and gas company’s stock valued at $150,000 after buying an additional 849 shares during the period. Squar Milner Financial Services LLC purchased a new position in Schlumberger in the second quarter valued at approximately $157,000. McKinley Carter Wealth Services Inc. purchased a new position in Schlumberger in the first quarter valued at approximately $154,000. Finally, FNY Investment Advisers LLC purchased a new position in Schlumberger in the second quarter valued at approximately $182,000. Institutional investors and hedge funds own 78.36% of the company’s stock.
SLB opened at $61.02 on Thursday. The company has a market cap of $87.42 billion, a PE ratio of 36.94, a PEG ratio of 5.73 and a beta of 0.96. Schlumberger Limited. has a 52-week low of $60.19 and a 52-week high of $80.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.12.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 20th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.35 billion. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. equities research analysts predict that Schlumberger Limited. will post 1.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Wednesday, September 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, September 4th. Schlumberger’s payout ratio is currently 133.33%.
Several research analysts recently commented on SLB shares. Seaport Global Securities set a $72.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. ValuEngine upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Citigroup cut their price target on shares of Schlumberger from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, June 13th. Wells Fargo & Co raised their price target on shares of Schlumberger from $76.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $80.00 price target on shares of Schlumberger in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Schlumberger presently has a consensus rating of “Buy” and an average target price of $79.91.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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