Mengis Capital Management Inc. trimmed its position in shares of Schlumberger Limited. (NYSE:SLB) by 16.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 61,584 shares of the oil and gas company’s stock after selling 12,422 shares during the period. Mengis Capital Management Inc.’s holdings in Schlumberger were worth $2,475,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SLB. Exor Investments UK LLP acquired a new stake in Schlumberger during the fourth quarter worth about $102,130,000. BlackRock Inc. grew its stake in Schlumberger by 2.7% during 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 buying an additional 2,340,320 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in Schlumberger by 226.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,921,835 shares of the oil and gas company’s stock worth $77,258,000 after buying an additional 1,333,497 shares in the last quarter. California Public Employees Retirement System grew its stake in Schlumberger by 28.7% during 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 buying an additional 717,943 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC acquired a new stake in Schlumberger during the fourth quarter worth about $25,219,000. Hedge funds and other institutional investors own 76.68% of the company’s stock.
A number of brokerages have issued reports on SLB. Sanford C. Bernstein began coverage on shares of Schlumberger in a research note on Monday, January 13th. They set an “underperform” rating and a $27.10 price objective on the stock. TheStreet downgraded shares of Schlumberger from a “c” rating to a “d+” rating in a research note on Friday, October 18th. Stifel Nicolaus increased their price objective on shares of Schlumberger from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Credit Suisse Group reissued a “hold” rating and issued a $36.00 target price on shares of Schlumberger in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. Schlumberger has a consensus rating of “Buy” and a consensus target price of $42.71.
SLB stock opened at $34.67 on Friday. The stock has a market capitalization of $47.56 billion, a P/E ratio of -4.73, a price-to-earnings-growth ratio of 2.02 and a beta of 1.64. The company has a current ratio of 1.19, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. Schlumberger Limited. has a 12 month low of $30.65 and a 12 month high of $48.88. The firm has a 50-day moving average price of $37.41 and a 200-day moving average price of $35.87.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $8.23 billion during the quarter, compared to analysts’ expectations of $8.16 billion. Schlumberger had a negative net margin of 30.80% and a positive return on equity of 6.77%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, equities analysts predict that Schlumberger Limited. will post 1.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, February 12th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.00 dividend on an annualized basis and a yield of 5.77%. Schlumberger’s dividend payout ratio (DPR) is presently 136.05%.
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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