The Manufacturers Life Insurance Company reduced its stake in Schlumberger Limited (NYSE:SLB) by 15.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,613,430 shares of the oil and gas company’s stock after selling 306,086 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of Schlumberger worth $25,105,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Liberty Wealth Management LLC increased its holdings in Schlumberger by 706.9% in the third quarter. Liberty Wealth Management LLC now owns 1,872 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 1,640 shares during the last quarter. CX Institutional increased its holdings in Schlumberger by 130.2% in the third quarter. CX Institutional now owns 1,984 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,122 shares during the last quarter. Optimum Investment Advisors increased its holdings in Schlumberger by 131.8% in the third quarter. Optimum Investment Advisors now owns 2,070 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,177 shares during the last quarter. Allworth Financial LP increased its holdings in Schlumberger by 59.0% in the second quarter. Allworth Financial LP now owns 2,075 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 770 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Schlumberger by 97.2% in the second quarter. Lindbrook Capital LLC now owns 2,489 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 1,227 shares during the last quarter. Institutional investors and hedge funds own 72.50% of the company’s stock.
In other news, CEO Peuch Olivier Le acquired 25,000 shares of Schlumberger stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $17.95 per share, for a total transaction of $448,750.00. Following the completion of the transaction, the chief executive officer now directly owns 191,770 shares in the company, valued at $3,442,271.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is owned by company insiders.
Shares of NYSE:SLB opened at $20.21 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 1.33. The company has a market cap of $28.13 billion, a P/E ratio of -2.66, a PEG ratio of 3.73 and a beta of 2.12. Schlumberger Limited has a 52 week low of $11.87 and a 52 week high of $41.14. The company has a 50-day moving average price of $16.18 and a 200 day moving average price of $17.97.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 16th. The oil and gas company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. The firm had revenue of $5.26 billion during the quarter, compared to the consensus estimate 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 revenue was down 38.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. Analysts expect that Schlumberger Limited will post 0.63 EPS for the current 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 given a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.50 dividend on an annualized basis and a yield of 2.47%. Schlumberger’s payout ratio is currently 34.01%.
SLB has been the topic of several research reports. Citigroup raised Schlumberger from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $20.00 to $26.00 in a report on Monday, July 27th. Exane BNP Paribas initiated coverage on Schlumberger in a report on Monday, October 12th. They set a “neutral” rating on the stock. Cowen raised their price objective on Schlumberger from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 19th. Scotiabank raised their price objective on Schlumberger from $21.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, October 19th. Finally, BMO Capital Markets initiated coverage on Schlumberger in a report on Thursday, October 1st. They set an “outperform” rating and a $21.00 price objective on the stock. Three 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. The company has a consensus rating of “Hold” and a consensus price target of $22.29.
Schlumberger Company Profile
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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