Wright Investors Service Inc. reduced its stake in shares of Schlumberger Limited. (NYSE:SLB) by 56.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,342 shares of the oil and gas company’s stock after selling 5,688 shares during the period. Wright Investors Service Inc.’s holdings in Schlumberger were worth $303,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Aviance Capital Management LLC bought a new position in shares of Schlumberger in the second quarter worth about $100,000. Mountain Capital Investment Advisors Inc bought a new position in shares of Schlumberger in the second quarter worth about $107,000. Tradewinds Capital Management LLC increased its stake in shares of Schlumberger by 22.3% in the second quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 298 shares during the period. Jacobi Capital Management LLC increased its stake in Schlumberger by 95.8% during the second quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 1,000 shares during the period. Finally, Atlantic Trust LLC bought a new position in Schlumberger during the second quarter valued at about $137,000. Institutional investors and hedge funds own 79.30% of the company’s stock.
Several equities analysts recently issued reports on the company. Jefferies Group restated a “buy” rating and set a $80.00 price target on shares of Schlumberger in a research note on Friday, September 29th. Citigroup boosted their price target on Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Royal Bank of Canada set a $86.00 price target on Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 7th. Cowen set a $80.00 price target on Schlumberger and gave the company a “buy” rating in a research note on Friday, October 6th. Finally, BMO Capital Markets lowered Schlumberger from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $74.00 to $72.00 in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $79.42.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. equities research analysts predict that Schlumberger Limited. will post 1.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s payout ratio is 512.82%.
In other news, Director Tore I. Sandvold sold 3,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by insiders.
TRADEMARK VIOLATION NOTICE: “Wright Investors Service Inc. Sells 5,688 Shares of Schlumberger Limited. (SLB)” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.chaffeybreeze.com/2018/01/03/wright-investors-service-inc-sells-5688-shares-of-schlumberger-limited-slb.html.
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.
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited. (NYSE:SLB).
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.