Meridian Investment Counsel Inc. increased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,916 shares of the oil and gas company’s stock after purchasing an additional 1,262 shares during the period. Meridian Investment Counsel Inc.’s holdings in Schlumberger were worth $474,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in SLB. BTC Capital Management Inc. increased its position in shares of Schlumberger by 3.6% during the 2nd quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock worth $3,520,000 after purchasing an additional 3,056 shares during the last quarter. Camarda Financial Advisors LLC increased its position in shares of Schlumberger by 7.4% during the 2nd quarter. Camarda Financial Advisors LLC now owns 47,628 shares of the oil and gas company’s stock worth $1,893,000 after purchasing an additional 3,275 shares during the last quarter. Chesley Taft & Associates LLC increased its position in shares of Schlumberger by 2.1% during the 2nd quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock worth $854,000 after purchasing an additional 450 shares during the last quarter. Griffin Asset Management Inc. increased its position in shares of Schlumberger by 44.3% during the 1st quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock worth $5,833,000 after purchasing an additional 41,076 shares during the last quarter. Finally, Manning & Napier Group LLC increased its position in shares of Schlumberger by 4.6% during the 2nd quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock worth $136,608,000 after purchasing an additional 152,088 shares during the last quarter. Institutional investors and hedge funds own 76.94% of the company’s stock.
A number of research firms recently weighed in on SLB. Royal Bank of Canada decreased their target price on Schlumberger to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. AltaCorp Capital restated an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Piper Jaffray Companies set a $40.00 price target on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 1st. Wells Fargo & Co reduced their price target on Schlumberger from $48.00 to $44.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Morgan Stanley upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.05.
Shares of Schlumberger stock traded down $0.35 on Thursday, hitting $36.97. 9,446,466 shares of the company’s stock traded hands, compared to its average volume of 10,410,823. Schlumberger Limited. has a one year low of $31.03 and a one year high of $63.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01. The company has a fifty day moving average of $34.94 and a two-hundred day moving average of $39.43. The company has a market capitalization of $50.11 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 2.54 and a beta of 1.49.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The business had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same period last year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited. will post 1.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is currently 123.46%.
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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