Hancock Whitney Corp boosted its stake in Schlumberger Limited. (NYSE:SLB) by 143.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,856 shares of the oil and gas company’s stock after buying an additional 11,689 shares during the period. Hancock Whitney Corp’s holdings in Schlumberger were worth $716,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Soros Fund Management LLC bought a new position in shares of Schlumberger during the 3rd quarter valued at about $3,046,000. Greylin Investment Mangement Inc. bought a new position in shares of Schlumberger during the 3rd quarter valued at about $7,963,000. Kentucky Retirement Systems bought a new position in shares of Schlumberger during the 3rd quarter valued at about $9,798,000. Lee Danner & Bass Inc. boosted its position in shares of Schlumberger by 11.4% during the 4th quarter. Lee Danner & Bass Inc. now owns 128,987 shares of the oil and gas company’s stock valued at $4,654,000 after purchasing an additional 13,203 shares in the last quarter. Finally, B. Riley Wealth Management Inc. bought a new position in shares of Schlumberger during the 3rd quarter valued at about $219,000. Hedge funds and other institutional investors own 78.94% of the company’s stock.
SLB stock traded down $1.65 during mid-day trading on Wednesday, reaching $44.24. 7,726,804 shares of the stock traded hands, compared to its average volume of 10,349,268. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 0.45. Schlumberger Limited. has a 52-week low of $34.99 and a 52-week high of $75.43. The firm has a market capitalization of $63.14 billion, a PE ratio of 27.31, a P/E/G ratio of 2.04 and a beta of 1.33.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Tuesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is 123.46%.
Several equities analysts have recently weighed in on SLB shares. Zacks Investment Research lowered shares of Schlumberger from a “hold” rating to a “strong sell” rating in a research report on Friday, January 11th. Citigroup reduced their price objective on shares of Schlumberger from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, January 4th. Tudor Pickering lowered shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price objective for the company. in a research report on Monday. Jefferies Financial Group lowered shares of Schlumberger from a “buy” rating to a “hold” rating and reduced their price objective for the company from $50.00 to $45.00 in a research report on Friday, March 15th. Finally, Royal Bank of Canada set a $58.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Friday, January 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $57.53.
In other news, CFO Simon Ayat sold 25,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $46.10, for a total value of $1,152,500.00. Following the completion of the sale, the chief financial officer now directly owns 255,971 shares of the company’s stock, valued at $11,800,263.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.
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.
Further Reading: Strangles
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