Zions Bancorporation grew its stake in shares of Schlumberger Limited. (NYSE:SLB) by 13.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,542 shares of the oil and gas company’s stock after buying an additional 1,159 shares during the quarter. Zions Bancorporation’s holdings in Schlumberger were worth $665,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. Aviance Capital Management LLC acquired a new position in shares of Schlumberger during the 2nd quarter valued at $100,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Schlumberger during the 2nd quarter valued at $107,000. Tradewinds Capital Management LLC lifted its holdings in shares of Schlumberger by 22.3% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 298 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of Schlumberger by 95.8% during the 2nd 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 in the last quarter. Finally, Atlantic Trust LLC acquired a new position in shares of Schlumberger during the 2nd quarter valued at $137,000. 79.18% of the stock is owned by institutional investors.
Shares of Schlumberger Limited. (NYSE SLB) opened at $65.87 on Thursday. The stock has a market cap of $91,250.00, a PE ratio of -60.43, a PEG ratio of 5.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95. Schlumberger Limited. has a 12 month low of $61.02 and a 12 month high of $82.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Wednesday, February 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio is presently -183.49%.
In related news, insider Howard Guild sold 25,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the completion of the sale, the insider now owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Simon Ayat sold 75,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the sale, the chief financial officer now directly owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
Several equities analysts recently weighed in on the stock. Cowen set a $85.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Wednesday. Loop Capital restated a “buy” rating and set a $82.00 target price (up previously from $77.00) on shares of Schlumberger in a report on Monday, January 22nd. Zacks Investment Research lowered shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Monday. SunTrust Banks reiterated a “hold” rating on shares of Schlumberger in a report on Tuesday, October 31st. Finally, Barclays set a $70.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Schlumberger currently has an average rating of “Buy” and a consensus price target of $82.29.
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.
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