Bbva Compass Bancshares Inc. reduced its position in Schlumberger Limited. (NYSE:SLB) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,479 shares of the oil and gas company’s stock after selling 11,011 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Schlumberger were worth $7,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Investment Advisors LLC boosted its position in shares of Schlumberger by 5.3% in the second quarter. Capital Investment Advisors LLC now owns 14,461 shares of the oil and gas company’s stock worth $969,000 after purchasing an additional 733 shares during the period. Portland Global Advisors LLC boosted its position in shares of Schlumberger by 2.8% in the second quarter. Portland Global Advisors LLC now owns 28,240 shares of the oil and gas company’s stock worth $1,893,000 after purchasing an additional 770 shares during the period. First Merchants Corp boosted its position in shares of Schlumberger by 1.4% in the second quarter. First Merchants Corp now owns 54,946 shares of the oil and gas company’s stock worth $3,683,000 after purchasing an additional 778 shares during the period. Guyasuta Investment Advisors Inc. boosted its position in shares of Schlumberger by 0.5% in the second quarter. Guyasuta Investment Advisors Inc. now owns 165,349 shares of the oil and gas company’s stock worth $11,083,000 after purchasing an additional 809 shares during the period. Finally, Summit Securities Group LLC boosted its position in shares of Schlumberger by 22.7% in the second quarter. Summit Securities Group LLC now owns 4,500 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 832 shares during the period. Institutional investors and hedge funds own 78.47% of the company’s stock.
In related news, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the sale, the chief financial officer now owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael E. Marks purchased 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average cost of $60.31 per share, for a total transaction of $482,480.00. The disclosure for this purchase can be found here. 0.48% of the stock is owned by corporate insiders.
A number of equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Schlumberger in a research report on Wednesday, October 10th. They set a “market perform” rating for the company. Piper Jaffray Companies restated a “buy” rating and set a $80.00 target price on shares of Schlumberger in a research report on Monday, July 23rd. Credit Suisse Group dropped their target price on shares of Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. Seaport Global Securities set a $72.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 23rd. Finally, ValuEngine upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $76.84.
Schlumberger stock opened at $51.58 on Friday. The firm has a market cap of $72.12 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 5.14 and a beta of 1.03. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. Schlumberger Limited. has a 52-week low of $50.72 and a 52-week high of $80.35.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. Schlumberger’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. On average, equities research analysts predict that Schlumberger Limited. will post 1.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s payout ratio is 133.33%.
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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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