Gamco Investors INC. ET AL lowered its stake in shares of Schlumberger Limited. (NYSE:SLB) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,056 shares of the oil and gas company’s stock after selling 5,780 shares during the period. Gamco Investors INC. ET AL’s holdings in Schlumberger were worth $760,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Highwater Wealth Management LLC acquired a new stake in Schlumberger in the 4th quarter worth about $45,000. IMS Capital Management acquired a new stake in Schlumberger in the 3rd quarter worth about $46,000. First Command Bank boosted its stake in Schlumberger by 337.7% in the 4th quarter. First Command Bank now owns 1,497 shares of the oil and gas company’s stock worth $54,000 after buying an additional 1,155 shares during the last quarter. First Command Financial Services Inc. boosted its stake in Schlumberger by 337.7% in the 4th quarter. First Command Financial Services Inc. now owns 1,497 shares of the oil and gas company’s stock worth $54,000 after buying an additional 1,155 shares during the last quarter. Finally, Legacy Bridge LLC acquired a new stake in Schlumberger in the 4th quarter worth about $87,000. 77.07% of the stock is currently owned by institutional investors and hedge funds.
SLB has been the topic of a number of research analyst reports. Citigroup decreased their price target on Schlumberger from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, October 22nd. HSBC raised Schlumberger from a “hold” rating to a “buy” rating in a research note on Sunday, December 2nd. JPMorgan Chase & Co. lowered Schlumberger from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $73.00 to $48.00 in a research note on Tuesday, December 11th. Credit Suisse Group decreased their price target on Schlumberger from $82.00 to $71.00 and set an “outperform” rating on the stock in a research note on Monday, October 22nd. Finally, Bank of America started coverage on Schlumberger in a report on Wednesday, October 17th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $66.65.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 18th. The oil and gas company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $8.10 billion. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. On average, equities analysts forecast that Schlumberger Limited. will post 1.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Wednesday, February 13th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 12th. This represents a $2.00 annualized dividend and a dividend yield of 4.58%. Schlumberger’s payout ratio is currently 123.46%.
In related news, EVP Patrick Schorn bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $375,500.00. Following the acquisition, the executive vice president now owns 35,000 shares in the company, valued at approximately $1,314,250. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peuch Olivier Le sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $44.00, for a total value of $660,000.00. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
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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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