Eastern Bank lowered its position in shares of Schlumberger Limited. (NYSE:SLB) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,512 shares of the oil and gas company’s stock after selling 691 shares during the quarter. Eastern Bank’s holdings in Schlumberger were worth $2,461,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mosaic Family Wealth LLC increased its stake in Schlumberger by 164.6% in the 2nd quarter. Mosaic Family Wealth LLC now owns 4,091 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 2,545 shares during the period. Tocqueville Asset Management L.P. boosted its stake in shares of Schlumberger by 13.2% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 1,296,523 shares of the oil and gas company’s stock valued at $85,363,000 after purchasing an additional 151,638 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Schlumberger by 8.7% during the 2nd quarter. Federated Investors Inc. PA now owns 61,993 shares of the oil and gas company’s stock worth $4,081,000 after acquiring an additional 4,963 shares during the last quarter. RiverPoint Capital Management LLC boosted its stake in Schlumberger by 2.9% during the 2nd quarter. RiverPoint Capital Management LLC now owns 19,215 shares of the oil and gas company’s stock worth $1,265,000 after acquiring an additional 550 shares during the last quarter. Finally, Valley National Advisers Inc. raised its holdings in Schlumberger by 0.3% during the 2nd quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock worth $171,000 after buying an additional 8 shares during the period. Institutional investors own 80.01% of the company’s stock.
Shares of Schlumberger Limited. (NYSE SLB) traded down $0.71 during trading hours on Wednesday, hitting $66.43. The stock had a trading volume of 5,814,150 shares, compared to its average volume of 9,131,237. Schlumberger Limited. has a twelve month low of $61.02 and a twelve month high of $80.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95. The stock has a market cap of $92,420.00, a P/E ratio of -58.53, a PEG ratio of 5.25 and a beta of 1.03.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The company had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.12 billion. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. sell-side analysts forecast that Schlumberger Limited. will post 2.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a yield of 3.01%. Schlumberger’s dividend payout ratio (DPR) is currently -175.44%.
In related news, CFO Simon Ayat sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was 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 directly owns 138,827 shares in the company, valued at $10,947,897.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Howard Guild sold 25,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the transaction, the insider now owns 22,410 shares in the company, valued at $1,753,806.60. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.
SLB has been the topic of a number of recent research reports. Royal Bank of Canada set a $73.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Thursday, December 21st. UBS Group set a $95.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, January 22nd. Zacks Investment Research cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, Cowen set a $85.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Schlumberger presently has a consensus rating of “Buy” and an average price target of $81.59.
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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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