Sandy Spring Bank Grows Stake in Schlumberger Limited. (SLB)

Sandy Spring Bank raised its stake in Schlumberger Limited. (NYSE:SLB) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,520 shares of the oil and gas company’s stock after acquiring an additional 540 shares during the period. Sandy Spring Bank’s holdings in Schlumberger were worth $5,638,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Choate Investment Advisors grew its position in Schlumberger by 0.4% in the second quarter. Choate Investment Advisors now owns 14,516 shares of the oil and gas company’s stock valued at $956,000 after acquiring an additional 60 shares during the period. BT Investment Management Ltd bought a new stake in Schlumberger in the second quarter valued at $318,000. Amalgamated Bank boosted its stake in Schlumberger by 59.8% in the second quarter. Amalgamated Bank now owns 156,467 shares of the oil and gas company’s stock worth $10,302,000 after purchasing an additional 58,583 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Schlumberger by 19.1% in the second quarter. Nationwide Fund Advisors now owns 1,099,366 shares of the oil and gas company’s stock worth $72,382,000 after purchasing an additional 176,501 shares in the last quarter. Finally, Comerica Securities Inc. boosted its stake in Schlumberger by 31.9% in the second quarter. Comerica Securities Inc. now owns 18,896 shares of the oil and gas company’s stock worth $1,253,000 after purchasing an additional 4,568 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $93,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

A number of equities analysts have commented on the company. Argus assumed coverage on Schlumberger in a research note on Monday, August 21st. They issued a “buy” rating on the stock. BidaskClub lowered Schlumberger from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Barclays set a $70.00 price objective on Schlumberger and gave the stock a “hold” rating in a research note on Wednesday, October 25th. SunTrust Banks reissued a “hold” rating on shares of Schlumberger in a research note on Tuesday, October 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $70.00 price objective (down previously from $86.00) on shares of Schlumberger in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Schlumberger has a consensus rating of “Buy” and a consensus price target of $79.31.

Schlumberger Limited. (SLB) traded down $1.38 during trading hours on Thursday, reaching $62.07. The company’s stock had a trading volume of 9,299,300 shares, compared to its average volume of 7,106,954. Schlumberger Limited. has a 1 year low of $61.02 and a 1 year high of $87.84. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $87,894.88, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.01.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. sell-side analysts expect that Schlumberger Limited. will post 1.47 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s payout ratio is 512.83%.

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Schlumberger Company Profile

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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