Roanoke Asset Management Corp NY lessened its stake in Schlumberger Limited. (NYSE:SLB) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,815 shares of the oil and gas company’s stock after selling 2,430 shares during the quarter. Schlumberger comprises approximately 1.3% of Roanoke Asset Management Corp NY’s holdings, making the stock its 29th biggest holding. Roanoke Asset Management Corp NY’s holdings in Schlumberger were worth $2,847,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Lyell Wealth Management LP lifted its holdings in shares of Schlumberger by 8.8% during the 1st quarter. Lyell Wealth Management LP now owns 33,361 shares of the oil and gas company’s stock valued at $2,622,000 after acquiring an additional 2,685 shares in the last quarter. Buckingham Asset Management LLC lifted its holdings in shares of Schlumberger by 1.2% during the 1st quarter. Buckingham Asset Management LLC now owns 8,459 shares of the oil and gas company’s stock valued at $661,000 after acquiring an additional 101 shares in the last quarter. Heritage Trust Co acquired a new position in shares of Schlumberger during the 1st quarter valued at $2,174,000. Outfitter Advisors LTD. lifted its holdings in shares of Schlumberger by 2.0% during the 1st quarter. Outfitter Advisors LTD. now owns 19,604 shares of the oil and gas company’s stock valued at $1,531,000 after acquiring an additional 390 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Schlumberger by 4.7% during the 1st quarter. Assetmark Inc. now owns 2,600 shares of the oil and gas company’s stock valued at $203,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 79.30% of the company’s stock.
Several equities analysts recently weighed in on SLB shares. Loop Capital reduced their target price on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Scotiabank set a $80.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Saturday, October 21st. Royal Bank of Canada set a $86.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Saturday, October 7th. Citigroup lifted their target price on shares of Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Deutsche Bank started coverage on shares of Schlumberger in a report on Tuesday, October 10th. They set a “buy” rating and a $78.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $79.42.
Shares of Schlumberger Limited. (SLB) opened at $67.39 on Tuesday. The stock has a market cap of $93,352.80, a price-to-earnings ratio of 172.80, a P/E/G ratio of 2.07 and a beta of 1.01. Schlumberger Limited. has a one year low of $61.02 and a one year high of $87.84. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.
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, hitting the Thomson Reuters’ consensus estimate of $0.42. The company had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS. analysts expect that Schlumberger Limited. will post 1.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s payout ratio is currently 512.83%.
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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