Northern Oak Wealth Management Inc. grew its position in shares of Schlumberger Limited. (NYSE:SLB) by 6.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 68,744 shares of the oil and gas company’s stock after acquiring an additional 4,161 shares during the quarter. Northern Oak Wealth Management Inc.’s holdings in Schlumberger were worth $4,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Canada Pension Plan Investment Board lifted its holdings in shares of Schlumberger by 204.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 890,152 shares of the oil and gas company’s stock valued at $58,608,000 after buying an additional 597,400 shares during the period. Palisade Asset Management LLC lifted its holdings in shares of Schlumberger by 26.6% during the 2nd quarter. Palisade Asset Management LLC now owns 30,495 shares of the oil and gas company’s stock valued at $2,008,000 after buying an additional 6,406 shares during the period. Trent Capital Management Inc. NC bought a new position in shares of Schlumberger during the 2nd quarter valued at $3,175,000. Tradewinds Capital Management LLC lifted its holdings in shares of Schlumberger by 22.3% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 298 shares during the period. Finally, Bright Rock Capital Management LLC lifted its holdings in shares of Schlumberger by 11.7% during the 2nd quarter. Bright Rock Capital Management LLC now owns 115,000 shares of the oil and gas company’s stock valued at $7,572,000 after buying an additional 12,000 shares during the period. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Cowen set a $85.00 price target on Schlumberger and gave the company a “buy” rating in a report on Wednesday. Loop Capital reissued a “buy” rating and set a $82.00 price target (up from $77.00) on shares of Schlumberger in a report on Monday, January 22nd. Zacks Investment Research cut Schlumberger from a “hold” rating to a “sell” rating in a report on Monday, February 12th. SunTrust Banks reaffirmed a “hold” rating on shares of Schlumberger in a report on Tuesday, October 31st. Finally, Barclays set a $70.00 target price on Schlumberger and gave the stock a “hold” rating in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $82.29.
Shares of Schlumberger Limited. (NYSE SLB) opened at $66.28 on Friday. Schlumberger Limited. has a 12 month low of $61.02 and a 12 month high of $82.69. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $91,820.00, a price-to-earnings ratio of -60.81, a price-to-earnings-growth ratio of 5.06 and a beta of 0.98.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The business had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same quarter in the prior year, the business posted $0.27 EPS. Schlumberger’s revenue for the quarter was up 15.1% compared to the same quarter last year. equities analysts expect that Schlumberger Limited. will post 2.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.02%. Schlumberger’s payout ratio is -183.49%.
In other news, insider Howard Guild sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the completion of the transaction, the insider now owns 22,410 shares in the company, valued at $1,753,806.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Simon Ayat sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total value of $5,914,500.00. Following the transaction, the chief financial officer now owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
Schlumberger Company Profile
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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