Riverhead Capital Management LLC lifted its stake in Schlumberger Limited. (NYSE:SLB) by 29.2% in the second quarter, HoldingsChannel.com reports. The firm owned 38,413 shares of the oil and gas company’s stock after purchasing an additional 8,680 shares during the period. Riverhead Capital Management LLC’s holdings in Schlumberger were worth $2,575,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Delek Group Ltd. acquired a new position in shares of Schlumberger in the 4th quarter valued at $100,000. SRS Capital Advisors Inc. boosted its position in shares of Schlumberger by 57.6% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,323 shares of the oil and gas company’s stock valued at $150,000 after purchasing an additional 849 shares during the period. McKinley Carter Wealth Services Inc. acquired a new position in shares of Schlumberger in the 1st quarter valued at $154,000. Squar Milner Financial Services LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at $157,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at $182,000. Institutional investors and hedge funds own 78.36% of the company’s stock.
Shares of NYSE SLB opened at $61.02 on Thursday. Schlumberger Limited. has a one year low of $60.19 and a one year high of $80.35. The stock has a market cap of $87.42 billion, a price-to-earnings ratio of 36.94, a price-to-earnings-growth ratio of 5.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.85.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The company had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the business earned $0.35 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. equities analysts expect that Schlumberger Limited. will post 1.84 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Wednesday, September 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 3.28%. The ex-dividend date of this dividend is Tuesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.
A number of research firms recently weighed in on SLB. ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Financial Group set a $80.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 23rd. Seaport Global Securities set a $72.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 23rd. Citigroup decreased their price objective on Schlumberger from $78.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, July 23rd. Finally, Credit Suisse Group raised their price objective on Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research 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. The stock presently has a consensus rating of “Buy” and an average target price of $79.91.
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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