Lowe Brockenbrough & Co. Inc. decreased its position in Schlumberger Limited. (NYSE:SLB) by 35.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,642 shares of the oil and gas company’s stock after selling 14,830 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Schlumberger were worth $961,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of SLB. Berman Capital Advisors LLC acquired a new stake in Schlumberger in the fourth quarter valued at $31,000. Bruderman Asset Management LLC purchased a new stake in Schlumberger during the 4th quarter worth about $33,000. Sontag Advisory LLC purchased a new stake in Schlumberger during the 4th quarter worth about $36,000. Exane Asset Management purchased a new stake in Schlumberger during the 4th quarter worth about $37,000. Finally, Highwater Wealth Management LLC purchased a new stake in Schlumberger in the 4th quarter valued at about $45,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.
SLB has been the subject of several recent analyst reports. Zacks Investment Research restated a “strong sell” rating on shares of Schlumberger in a report on Monday, December 31st. Citigroup decreased their target price on Schlumberger from $57.00 to $54.00 and set a “buy” rating for the company in a report on Friday, January 4th. Royal Bank of Canada set a $58.00 target price on Schlumberger and gave the stock a “buy” rating in a report on Friday, January 18th. Credit Suisse Group set a $44.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Friday, January 18th. Finally, Goldman Sachs Group initiated coverage on Schlumberger in a research report on Sunday, March 10th. They set a “buy” rating and a $55.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. Schlumberger presently has an average rating of “Hold” and an average price target of $57.53.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The company had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited. will post 1.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.00 annualized dividend and a dividend yield of 4.62%. Schlumberger’s dividend payout ratio (DPR) is 123.46%.
In other news, CFO Simon Ayat sold 25,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was 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 owns 255,971 shares in the company, valued at $11,800,263.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.48% of the company’s stock.
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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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