Comerica Bank boosted its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 644,269 shares of the oil and gas company’s stock after acquiring an additional 15,155 shares during the period. Comerica Bank’s holdings in Schlumberger were worth $41,303,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Aviance Capital Management LLC acquired a new position in Schlumberger during the second quarter worth approximately $100,000. Mountain Capital Investment Advisors Inc acquired a new position in Schlumberger during the second quarter worth approximately $107,000. Tradewinds Capital Management LLC increased its position in Schlumberger by 22.3% during the second quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 298 shares during the last quarter. Jacobi Capital Management LLC increased its position in Schlumberger by 95.8% during the second quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Atlantic Trust LLC acquired a new position in Schlumberger during the second quarter worth approximately $137,000. Institutional investors own 79.30% of the company’s stock.
Schlumberger Limited. (NYSE:SLB) traded down $2.21 on Friday, reaching $65.19. 19,566,716 shares of the company traded hands, compared to its average volume of 9,940,000. The firm has a market capitalization of $90,310.00, a PE ratio of -59.81, a PEG ratio of 4.96 and a beta of 0.98. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. Schlumberger Limited. has a 1 year low of $61.02 and a 1 year high of $82.71.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The company had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.12 billion. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. sell-side analysts predict that Schlumberger Limited. will post 2.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.07%. Schlumberger’s dividend payout ratio (DPR) is -183.49%.
In related news, insider Howard Guild sold 25,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $78.26, for a total value of $1,956,500.00. Following the sale, the insider now owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the completion of the sale, the chief financial officer now directly owns 138,827 shares in the company, valued at approximately $10,947,897.22. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.
Several equities analysts recently commented on the stock. SunTrust Banks upped their price target on shares of Schlumberger from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Susquehanna Bancshares set a $88.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Barclays set a $75.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Finally, Loop Capital reiterated a “buy” rating and set a $82.00 price objective (up from $77.00) on shares of Schlumberger in a research note on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $82.29.
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Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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