Profund Advisors LLC grew its position in shares of Schlumberger Limited. (NYSE:SLB) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,468 shares of the oil and gas company’s stock after acquiring an additional 6,252 shares during the quarter. Profund Advisors LLC’s holdings in Schlumberger were worth $3,436,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in Schlumberger by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,028,270 shares of the oil and gas company’s stock valued at $1,074,104,000 after acquiring an additional 96,574 shares during the period. Geode Capital Management LLC boosted its stake 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 buying an additional 1,125,484 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Schlumberger by 9.7% in the first quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock valued at $595,174,000 after buying an additional 1,203,997 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Schlumberger by 6.4% in the second quarter. Fisher Asset Management LLC now owns 11,816,154 shares of the oil and gas company’s stock valued at $469,574,000 after buying an additional 709,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Schlumberger by 4.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,017,507 shares of the oil and gas company’s stock valued at $278,876,000 after purchasing an additional 313,204 shares during the last quarter. 76.94% of the stock is owned by hedge funds and other institutional investors.
SLB has been the subject of a number of analyst reports. Piper Jaffray Companies set a $40.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 1st. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Co cut their target price on Schlumberger from $48.00 to $44.00 and set an “outperform” rating on the stock in a research report on Thursday. Morgan Stanley raised Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a research report on Tuesday. Finally, Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $51.05.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares in the company, valued at $1,881,508.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the sale, the executive vice president now directly owns 130,000 shares in the company, valued at approximately $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
Shares of SLB traded up $0.49 during mid-day trading on Friday, hitting $37.39. 537,363 shares of the company were exchanged, compared to its average volume of 11,425,570. The stock has a market cap of $51.81 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.63 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. Schlumberger Limited. has a 1-year low of $31.03 and a 1-year high of $63.65. The company has a 50 day moving average of $34.94 and a 200-day moving average of $39.43.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. Research analysts anticipate that Schlumberger Limited. will post 1.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.35%. Schlumberger’s payout ratio is 123.46%.
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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