Argus Investors Counsel Inc. increased its position in shares of Schlumberger Limited. (NYSE:SLB) by 122.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,480 shares of the oil and gas company’s stock after purchasing an additional 88,970 shares during the period. Argus Investors Counsel Inc.’s holdings in Schlumberger were worth $6,417,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $486,635,000. Two Sigma Advisers LP increased its position in shares of Schlumberger by 139,145.2% during the fourth quarter. Two Sigma Advisers LP now owns 7,140,492 shares of the oil and gas company’s stock valued at $257,629,000 after acquiring an additional 7,135,364 shares during the last quarter. FMR LLC increased its position in shares of Schlumberger by 53.5% during the fourth quarter. FMR LLC now owns 8,150,451 shares of the oil and gas company’s stock valued at $294,067,000 after acquiring an additional 2,841,792 shares during the last quarter. Brandywine Global Investment Management LLC increased its position in shares of Schlumberger by 78.9% during the fourth quarter. Brandywine Global Investment Management LLC now owns 3,709,622 shares of the oil and gas company’s stock valued at $133,844,000 after acquiring an additional 1,635,785 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Schlumberger by 15.5% during 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 acquiring an additional 1,583,692 shares during the last quarter. Hedge funds and other institutional investors own 77.16% of the company’s stock.
Schlumberger stock traded up $0.26 during trading on Tuesday, reaching $39.75. The stock had a trading volume of 10,610,400 shares, compared to its average volume of 10,210,474. Schlumberger Limited. has a 52-week low of $34.46 and a 52-week high of $68.30. The firm has a 50 day moving average of $38.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.39. The stock has a market capitalization of $55.17 billion, a PE ratio of 24.54, a PEG ratio of 2.43 and a beta of 1.45.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts expect that Schlumberger Limited. will post 1.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 5.03%. Schlumberger’s dividend payout ratio is currently 123.46%.
In related news, insider Alexander C. Juden sold 8,643 shares of Schlumberger 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 completion of the transaction, the insider now owns 70,260 shares in the company, valued at $3,041,555.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
A number of equities research analysts have weighed in on SLB shares. Tudor Pickering cut shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target for the company. in a research report on Monday, April 22nd. Royal Bank of Canada lifted their price target on shares of WestJet Airlines from C$20.00 to C$31.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 15th. Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. Bank of America reiterated an “underperform” rating and set a $1.25 price target (down from $4.50) on shares of Superior Energy Services in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $53.21.
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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