Wendell David Associates Inc. trimmed its position in shares of Schlumberger Limited. (NYSE:SLB) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,046 shares of the oil and gas company’s stock after selling 1,100 shares during the period. Wendell David Associates Inc.’s holdings in Schlumberger were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. HC Financial Advisors Inc. increased its holdings in shares of Schlumberger by 44.0% in the third quarter. HC Financial Advisors Inc. now owns 24,373 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 7,444 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Schlumberger by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 31,019,971 shares of the oil and gas company’s stock valued at $1,889,738,000 after acquiring an additional 1,558,478 shares during the period. CI Investments Inc. boosted its position in shares of Schlumberger by 41.4% in the third quarter. CI Investments Inc. now owns 756,840 shares of the oil and gas company’s stock valued at $46,107,000 after acquiring an additional 221,700 shares during the period. Standard Life Aberdeen plc boosted its position in shares of Schlumberger by 4.0% in the third quarter. Standard Life Aberdeen plc now owns 4,717,037 shares of the oil and gas company’s stock valued at $287,384,000 after acquiring an additional 182,508 shares during the period. Finally, BlueMountain Capital Management LLC bought a new stake in shares of Schlumberger in the third quarter valued at about $537,000. Institutional investors and hedge funds own 78.94% of the company’s stock.
SLB has been the subject of a number of recent research reports. Royal Bank of Canada set a $58.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Friday, January 18th. Raymond James reissued a “hold” rating on shares of Schlumberger in a research report on Tuesday, April 2nd. Zacks Investment Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Credit Suisse Group cut shares of Schlumberger from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $65.00 to $44.00 in a research report on Wednesday, December 19th. Finally, Barclays reduced their target price on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $65.00.
NYSE:SLB opened at $47.34 on Wednesday. The company has a market cap of $64.31 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 2.50 and a beta of 1.33. Schlumberger Limited. has a fifty-two week low of $34.99 and a fifty-two week high of $75.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 0.87.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. On average, sell-side analysts expect that Schlumberger Limited. will post 1.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Wednesday, February 13th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Tuesday, February 12th. Schlumberger’s payout ratio is 123.46%.
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Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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