K.J. Harrison & Partners Inc Raises Position in Schlumberger (SLB)

K.J. Harrison & Partners Inc boosted its holdings in Schlumberger (NYSE:SLB) by 111.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,230 shares of the oil and gas company’s stock after acquiring an additional 7,500 shares during the period. K.J. Harrison & Partners Inc’s holdings in Schlumberger were worth $922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Harding Loevner LP grew its stake in Schlumberger by 1,337.3% in the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock valued at $569,035,000 after acquiring an additional 129,289,552 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Schlumberger by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 27,353,450 shares of the oil and gas company’s stock worth $1,843,349,000 after purchasing an additional 1,733,171 shares during the last quarter. Northern Cross LLC boosted its stake in shares of Schlumberger by 15.3% during the 4th quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock worth $1,337,870,000 after purchasing an additional 2,637,527 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Schlumberger by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 14,131,891 shares of the oil and gas company’s stock worth $950,287,000 after purchasing an additional 309,033 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Schlumberger by 25.6% during the 4th quarter. Franklin Resources Inc. now owns 13,240,530 shares of the oil and gas company’s stock worth $892,278,000 after purchasing an additional 2,696,580 shares during the last quarter. 78.60% of the stock is currently owned by hedge funds and other institutional investors.

In other Schlumberger news, CEO Paal Kibsgaard purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The shares were purchased at an average price of $64.68 per share, for a total transaction of $646,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Claudia Jaramillo sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $72.68, for a total transaction of $218,040.00. Following the completion of the transaction, the vice president now owns 6,162 shares in the company, valued at approximately $447,854.16. The disclosure for this sale can be found here. Insiders purchased 18,000 shares of company stock worth $1,163,650 in the last 90 days. 0.48% of the stock is currently owned by insiders.

Shares of Schlumberger opened at $73.45 on Thursday, Marketbeat reports. The stock has a market cap of $103.91 billion, a PE ratio of 48.97, a P/E/G ratio of 6.09 and a beta of 1.05. Schlumberger has a 1-year low of $61.02 and a 1-year high of $80.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.11.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 20th. The oil and gas company reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. Schlumberger had a negative net margin of 4.01% and a positive return on equity of 5.85%. The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same quarter last year, the firm posted $0.25 earnings per share. Schlumberger’s revenue for the quarter was up 13.6% compared to the same quarter last year. analysts forecast that Schlumberger will post 2.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Wednesday, June 6th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 5th. This represents a $2.00 annualized dividend and a yield of 2.72%. Schlumberger’s payout ratio is 133.33%.

Several research firms have issued reports on SLB. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Susquehanna Bancshares set a $87.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, April 23rd. Seaport Global Securities set a $76.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, April 23rd. SunTrust Banks set a $82.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, April 23rd. Finally, Credit Suisse Group set a $80.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, April 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $79.80.

About Schlumberger

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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