Loomis Sayles & Co. L P cut its holdings in Schlumberger Limited. (NYSE:SLB) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,538,035 shares of the oil and gas company’s stock after selling 231,743 shares during the quarter. Schlumberger makes up about 2.1% of Loomis Sayles & Co. L P’s investment portfolio, making the stock its 14th largest position. Loomis Sayles & Co. L P owned approximately 1.12% of Schlumberger worth $1,006,554,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in SLB. Fisher Asset Management LLC lifted its stake in Schlumberger by 21,872.1% in the first quarter. Fisher Asset Management LLC now owns 5,868,964 shares of the oil and gas company’s stock worth $380,192,000 after acquiring an additional 5,842,253 shares during the period. Franklin Resources Inc. lifted its stake in Schlumberger by 25.6% in the fourth quarter. Franklin Resources Inc. now owns 13,240,530 shares of the oil and gas company’s stock worth $892,278,000 after acquiring an additional 2,696,580 shares during the period. Northern Cross LLC lifted its stake in Schlumberger by 15.3% in the fourth quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock worth $1,337,870,000 after acquiring an additional 2,637,527 shares during the period. International Value Advisers LLC bought a new position in Schlumberger in the fourth quarter worth about $146,182,000. Finally, Lazard Asset Management LLC raised its holdings in Schlumberger by 48.2% in the fourth quarter. Lazard Asset Management LLC now owns 6,110,497 shares of the oil and gas company’s stock worth $411,785,000 after purchasing an additional 1,986,126 shares in the last quarter. 78.38% of the stock is owned by institutional investors.
A number of equities analysts have commented on SLB shares. SunTrust Banks set a $82.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, April 23rd. ValuEngine downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Seaport Global Securities set a $76.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, April 23rd. Credit Suisse Group set a $86.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Wednesday, March 14th. Finally, Citigroup reduced their target price on shares of Schlumberger from $84.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $79.96.
In other news, insider Mogharbel Khaled Al bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The shares were purchased at an average price of $64.30 per share, for a total transaction of $192,900.00. Following the completion of the transaction, the insider now directly owns 30,482 shares in the company, valued at $1,959,992.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by corporate insiders.
Schlumberger opened at $65.43 on Tuesday, according to MarketBeat.com. Schlumberger Limited. has a 52-week low of $61.02 and a 52-week 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. The stock has a market cap of $92.21 billion, a PE ratio of 43.62, a P/E/G ratio of 5.78 and a beta of 1.05.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 20th. The oil and gas company reported $0.38 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.38. The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.79 billion. Schlumberger had a positive return on equity of 5.85% and a negative net margin of 4.01%. Schlumberger’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. analysts anticipate that Schlumberger Limited. will post 1.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Wednesday, June 6th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 3.06%. Schlumberger’s dividend payout ratio is currently 133.33%.
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.
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