Salem Capital Management Inc. reduced its position in Schlumberger Limited. (NYSE:SLB) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,097 shares of the oil and gas company’s stock after selling 3,000 shares during the quarter. Salem Capital Management Inc.’s holdings in Schlumberger were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CX Institutional lifted its holdings in shares of Schlumberger by 158.4% in the first quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock worth $28,000 after buying an additional 396 shares in the last quarter. Berman Capital Advisors LLC purchased a new position in shares of Schlumberger in the fourth quarter worth $31,000. Bruderman Asset Management LLC purchased a new position in shares of Schlumberger in the fourth quarter worth $33,000. Sontag Advisory LLC purchased a new position in shares of Schlumberger in the fourth quarter worth $36,000. Finally, Exane Asset Management purchased a new position in shares of Schlumberger in the fourth quarter worth $37,000. Institutional investors and hedge funds own 78.94% of the company’s stock.
In other news, EVP Peuch Olivier Le sold 15,000 shares of the stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $44.00, for a total value of $660,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.48% of the company’s stock.
Several research firms have recently commented on SLB. Barclays lowered their target price on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 9th. Credit Suisse Group set a $44.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a report on Friday, January 18th. Royal Bank of Canada set a $58.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Friday, January 18th. Raymond James reissued a “hold” rating on shares of Schlumberger in a report on Tuesday, April 2nd. Finally, Zacks Investment Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. Schlumberger presently has a consensus rating of “Hold” and an average price target of $65.00.
Shares of SLB opened at $45.56 on Friday. Schlumberger Limited. has a twelve month low of $34.99 and a twelve month high of $75.43. The firm has a market capitalization of $63.14 billion, a PE ratio of 28.12, a PEG ratio of 2.04 and a beta of 1.33. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 0.45.
Schlumberger (NYSE:SLB) last announced its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. The business had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that Schlumberger Limited. will post 1.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Tuesday, June 4th. Schlumberger’s dividend payout ratio is currently 123.46%.
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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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