Fifth Third Bancorp trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 230,866 shares of the oil and gas company’s stock after selling 40,867 shares during the period. Fifth Third Bancorp’s holdings in Schlumberger were worth $3,592,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its position in shares of Schlumberger by 344.8% during the second quarter. Point72 Asset Management L.P. now owns 4,018,364 shares of the oil and gas company’s stock worth $73,898,000 after purchasing an additional 3,114,896 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Schlumberger during the third quarter worth about $46,560,000. FMR LLC lifted its position in shares of Schlumberger by 70.1% during the second quarter. FMR LLC now owns 5,929,107 shares of the oil and gas company’s stock worth $108,990,000 after purchasing an additional 2,443,204 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Schlumberger during the second quarter worth about $42,276,000. Finally, APG Asset Management N.V. lifted its holdings in Schlumberger by 188.8% in the second quarter. APG Asset Management N.V. now owns 2,721,248 shares of the oil and gas company’s stock worth $44,557,000 after acquiring an additional 1,779,085 shares during the last quarter. Hedge funds and other institutional investors own 72.50% of the company’s stock.
In other news, CEO Peuch Olivier Le acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $17.95 per share, with a total value of $448,750.00. Following the purchase, the chief executive officer now owns 191,770 shares of the company’s stock, valued at approximately $3,442,271.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.
Schlumberger stock opened at $20.21 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.92 and a current ratio of 1.22. The firm has a market cap of $28.13 billion, a price-to-earnings ratio of -2.66, a price-to-earnings-growth ratio of 3.73 and a beta of 2.12. Schlumberger Limited has a 1 year low of $11.87 and a 1 year high of $41.14. The firm’s 50 day moving average price is $16.18 and its two-hundred day moving average price is $17.97.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 16th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The firm had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.37 billion. Schlumberger had a negative net margin of 40.15% and a positive return on equity of 7.34%. The firm’s quarterly revenue was down 38.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. As a group, equities analysts predict that Schlumberger Limited will post 0.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Wednesday, December 2nd will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Tuesday, December 1st. Schlumberger’s dividend payout ratio is 34.01%.
SLB has been the topic of a number of recent research reports. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Cowen raised their target price on shares of Schlumberger from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 19th. Wells Fargo & Company cut their target price on shares of Schlumberger from $28.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. BMO Capital Markets began coverage on shares of Schlumberger in a research note on Thursday, October 1st. They issued an “outperform” rating and a $21.00 price target on the stock. Finally, Exane BNP Paribas began coverage on shares of Schlumberger in a research note on Monday, October 12th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Schlumberger currently has an average rating of “Hold” and a consensus target price of $22.29.
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; and petro technical data services and training solutions.
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