Oregon Public Employees Retirement Fund grew its position in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,062 shares of the oil and gas company’s stock after acquiring an additional 18,093 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Schlumberger were worth $11,817,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Equitec Proprietary Markets LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $25,000. Old North State Trust LLC increased its holdings in shares of Schlumberger by 91.4% during the fourth quarter. Old North State Trust LLC now owns 911 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 435 shares in the last quarter. Duncker Streett & Co. Inc. increased its holdings in shares of Schlumberger by 51.1% during the fourth quarter. Duncker Streett & Co. Inc. now owns 893 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 302 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Schlumberger during the first quarter valued at approximately $29,000. Finally, Cassady Schiller Wealth Management LLC bought a new stake in Schlumberger during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.
In other Schlumberger news, insider Katharina Beumelburg sold 4,200 shares of the firm’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $40.28, for a total value of $169,176.00. Following the sale, the insider now owns 519 shares of the company’s stock, valued at approximately $20,905.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total value of $204,552,500.00. Following the completion of the sale, the insider now directly owns 23,069,461 shares in the company, valued at approximately $392,180,837. The disclosure for this sale can be found here. Insiders have sold a total of 26,567,459 shares of company stock worth $430,840,521 in the last three months. 0.28% of the stock is currently owned by insiders.
Several brokerages recently issued reports on SLB. Cowen raised their price target on Schlumberger from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, March 31st. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Monday, April 25th. The Goldman Sachs Group upgraded Schlumberger from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, March 22nd. Barclays raised their price objective on Schlumberger from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, June 8th. Finally, HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.60 to $44.20 in a research note on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $46.85.
Shares of SLB opened at $35.65 on Friday. The stock’s 50-day simple moving average is $41.55 and its 200-day simple moving average is $39.53. The stock has a market capitalization of $50.39 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 0.42 and a beta of 1.93. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.24. Schlumberger Limited has a 52-week low of $25.90 and a 52-week high of $49.83.
Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.90 billion. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, research analysts forecast that Schlumberger Limited will post 1.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Wednesday, June 1st will be issued a dividend of $0.175 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.96%. Schlumberger’s dividend payout ratio is 47.62%.
Schlumberger Company Profile: (Get Rating)
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions. Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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