Fifth Third Bancorp Has $66.63 Million Stake in Schlumberger Limited. (SLB)

Fifth Third Bancorp grew its stake in Schlumberger Limited. (NYSE:SLB) by 0.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,093,773 shares of the oil and gas company’s stock after purchasing an additional 6,170 shares during the quarter. Fifth Third Bancorp’s holdings in Schlumberger were worth $66,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mainstay Capital Management LLC ADV grew its holdings in Schlumberger by 3,884.1% during the second quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 6,603 shares during the period. Zions Bancorporation bought a new position in Schlumberger during the third quarter worth about $131,000. Truvestments Capital LLC bought a new position in Schlumberger during the third quarter worth about $132,000. Whitener Capital Management Inc. bought a new position in Schlumberger during the third quarter worth about $137,000. Finally, Moneta Group Investment Advisors LLC grew its holdings in Schlumberger by 909.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 20,137 shares during the period. Institutional investors own 77.74% of the company’s stock.

Shares of SLB stock opened at $42.32 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market cap of $61.10 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 4.39 and a beta of 1.04. Schlumberger Limited. has a 12-month low of $41.87 and a 12-month high of $80.35.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. On average, sell-side analysts anticipate that Schlumberger Limited. will post 1.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 5th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 4.73%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.

In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares in the company, valued at $13,244,852.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

A number of research firms recently commented on SLB. Tudor Pickering cut Schlumberger from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating in a report on Sunday, December 2nd. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Credit Suisse Group reduced their price target on Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. Finally, UBS Group reduced their price target on Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. Schlumberger currently has a consensus rating of “Buy” and an average target price of $74.50.

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Schlumberger Profile

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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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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