Weybosset Research & Management LLC bought a new position in Schlumberger Limited. (NYSE:SLB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,450 shares of the oil and gas company’s stock, valued at approximately $259,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Mackenzie Financial Corp lifted its position in Schlumberger by 14,241.7% in the second quarter. Mackenzie Financial Corp now owns 2,921,974 shares of the oil and gas company’s stock worth $116,119,000 after purchasing an additional 2,901,600 shares during the period. Exor Investments UK LLP acquired a new stake in Schlumberger in the fourth quarter worth approximately $102,130,000. BlackRock Inc. lifted its position in Schlumberger by 2.7% in the second quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock worth $3,571,386,000 after purchasing an additional 2,340,320 shares during the period. California Public Employees Retirement System lifted its position in Schlumberger by 28.7% in the third quarter. California Public Employees Retirement System now owns 3,216,875 shares of the oil and gas company’s stock worth $109,921,000 after purchasing an additional 717,943 shares during the period. Finally, Atalanta Sosnoff Capital LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $25,219,000. Hedge funds and other institutional investors own 76.45% of the company’s stock.
In other news, CAO Howard Guild sold 9,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.36, for a total value of $318,240.00. Also, EVP Patrick Schorn sold 65,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.89, for a total transaction of $2,332,850.00. Following the completion of the transaction, the executive vice president now directly owns 50,000 shares in the company, valued at $1,794,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,735 shares of company stock worth $3,594,864. Company insiders own 0.48% of the company’s stock.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Schlumberger had a negative net margin of 30.80% and a positive return on equity of 6.77%. The company had revenue of $8.23 billion for the quarter, compared to the consensus estimate of $8.16 billion. During the same period in the previous year, the business earned $0.36 EPS. The company’s revenue was up .6% on a year-over-year basis. Research analysts predict that Schlumberger Limited. will post 1.6 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.85%. The ex-dividend date is Tuesday, February 11th. Schlumberger’s dividend payout ratio (DPR) is currently 136.05%.
SLB has been the subject of a number of recent research reports. Credit Suisse Group reiterated a “hold” rating and set a $36.00 price objective on shares of Schlumberger in a research report on Wednesday, January 22nd. Morgan Stanley set a $50.00 price objective on Schlumberger and gave the company a “buy” rating in a research report on Monday, October 21st. ValuEngine upgraded Schlumberger from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Bernstein Bank initiated coverage on Schlumberger in a research report on Tuesday, January 14th. They set an “underperform” rating and a $27.10 price objective for the company. Finally, Royal Bank of Canada set a $40.00 price objective on Schlumberger and gave the company a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Schlumberger has a consensus rating of “Buy” and an average price target of $42.71.
Schlumberger Company Profile
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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