Occidental Asset Management LLC boosted its position in shares of Schlumberger Limited. (NYSE:SLB) by 80.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,218 shares of the oil and gas company’s stock after purchasing an additional 5,873 shares during the period. Occidental Asset Management LLC’s holdings in Schlumberger were worth $525,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in SLB. Ellis Investment Partners LLC bought a new position in shares of Schlumberger in the 1st quarter valued at about $26,000. Quad Cities Investment Group LLC bought a new position in shares of Schlumberger in the 2nd quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Schlumberger in the 2nd quarter valued at about $32,000. Lenox Wealth Management Inc. grew its holdings in shares of Schlumberger by 41.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 256 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Schlumberger in the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 77.22% of the company’s stock.
SLB stock traded down $0.80 during mid-day trading on Thursday, hitting $31.54. 1,318,420 shares of the company were exchanged, compared to its average volume of 10,231,132. The business has a 50 day simple moving average of $38.50. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The firm has a market cap of $47.40 billion, a PE ratio of 19.54, a PEG ratio of 2.15 and a beta of 1.44. Schlumberger Limited. has a 1-year low of $32.20 and a 1-year high of $65.61.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. Sell-side analysts predict that Schlumberger Limited. will post 1.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 6.34%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
In other news, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the sale, the executive vice president now directly owns 130,000 shares in the company, valued at $5,060,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the sale, the insider now owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Several equities research analysts recently issued reports on SLB shares. Stifel Nicolaus upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, June 7th. Piper Jaffray Companies set a $40.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 1st. Bank of America reiterated a “buy” rating and issued a $51.00 target price (down from $60.00) on shares of Schlumberger in a research note on Tuesday, June 25th. AltaCorp Capital reiterated an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Finally, Morgan Stanley set a $51.00 target price on shares of Schlumberger and gave the company a “hold” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.17.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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