Tributary Capital Management LLC cut its stake in shares of Schlumberger Limited. (NYSE:SLB) by 86.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the oil and gas company’s stock after selling 46,530 shares during the quarter. Tributary Capital Management LLC’s holdings in Schlumberger were worth $426,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Precocity Capital LP increased its holdings in Schlumberger by 20.0% in the 2nd quarter. Precocity Capital LP now owns 60,000 shares of the oil and gas company’s stock worth $4,022,000 after buying an additional 10,000 shares in the last quarter. Private Advisor Group LLC increased its holdings in Schlumberger by 214.6% in the 2nd quarter. Private Advisor Group LLC now owns 28,977 shares of the oil and gas company’s stock worth $1,903,000 after buying an additional 19,765 shares in the last quarter. Barings LLC increased its holdings in Schlumberger by 365.6% in the 2nd quarter. Barings LLC now owns 325,428 shares of the oil and gas company’s stock worth $21,813,000 after buying an additional 255,539 shares in the last quarter. Bain Capital Public Equity Management LLC bought a new stake in Schlumberger in the 2nd quarter worth about $45,421,000. Finally, Intrust Bank NA increased its holdings in Schlumberger by 10.2% in the 2nd quarter. Intrust Bank NA now owns 18,356 shares of the oil and gas company’s stock worth $1,231,000 after buying an additional 1,696 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.
In related news, Director Michael E. Marks acquired 8,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were purchased at an average cost of $60.31 per share, with a total value of $482,480.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by insiders.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 20th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The business had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited. will post 1.75 EPS for the current year.
Several equities research analysts recently commented on the company. Tudor Pickering downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Credit Suisse Group lifted their price objective on Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 23rd. Citigroup reduced their price objective on Schlumberger from $79.00 to $78.00 and set a “buy” rating for the company in a report on Monday, June 25th. Finally, Jefferies Financial Group set a $80.00 target price on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 23rd. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $78.90.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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