Watch Point Trust Co boosted its holdings in Schlumberger Limited. (NYSE:SLB) by 21.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 61,714 shares of the oil and gas company’s stock after purchasing an additional 11,040 shares during the quarter. Watch Point Trust Co’s holdings in Schlumberger were worth $2,452,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Schlumberger by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock valued at $593,754,000 after purchasing an additional 1,125,484 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Schlumberger by 9.1% during the first quarter. Capital Investment Advisors LLC now owns 14,429 shares of the oil and gas company’s stock valued at $629,000 after purchasing an additional 1,201 shares during the last quarter. Buckley Wealth Management LLC lifted its holdings in shares of Schlumberger by 25.5% during the first quarter. Buckley Wealth Management LLC now owns 10,101 shares of the oil and gas company’s stock valued at $440,000 after purchasing an additional 2,051 shares during the last quarter. Lincoln Capital Corp lifted its holdings in shares of Schlumberger by 4.7% during the first quarter. Lincoln Capital Corp now owns 33,749 shares of the oil and gas company’s stock valued at $1,470,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Cardinal Capital Management lifted its holdings in shares of Schlumberger by 672.7% during the first quarter. Cardinal Capital Management now owns 50,589 shares of the oil and gas company’s stock valued at $2,204,000 after purchasing an additional 44,042 shares during the last quarter. 77.22% of the stock is currently owned by institutional investors and hedge funds.
SLB stock traded down $0.79 during mid-day trading on Thursday, hitting $31.55. The stock had a trading volume of 10,367,258 shares, compared to its average volume of 10,231,132. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. Schlumberger Limited. has a 1-year low of $32.20 and a 1-year high of $65.61. The business’s fifty day moving average price is $38.50. The stock has a market cap of $47.40 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.44.
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 annualized dividend and a yield of 6.34%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s payout ratio is currently 123.46%.
Several equities research analysts have recently commented on the company. Gabelli assumed coverage on Schlumberger in a report on Thursday, June 27th. They set a “buy” rating and a $55.00 target price for the company. Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, June 7th. Royal Bank of Canada reduced their target price on Schlumberger to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Tudor Pickering downgraded Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 target price for the company. in a report on Monday, April 22nd. Finally, Piper Jaffray Companies set a $40.00 target price on Schlumberger and gave the company a “buy” rating in a report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $52.17.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the transaction, the executive vice president now directly owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
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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