Reilly Financial Advisors LLC reduced its position in shares of Schlumberger Limited. (NYSE:SLB) by 14.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,241 shares of the oil and gas company’s stock after selling 530 shares during the period. Reilly Financial Advisors LLC’s holdings in Schlumberger were worth $129,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ellis Investment Partners LLC bought a new stake in Schlumberger in the 1st quarter valued at $26,000. CX Institutional boosted its holdings in Schlumberger by 158.4% in the 1st quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 396 shares during the period. Quad Cities Investment Group LLC bought a new stake in Schlumberger in the 2nd quarter valued at $32,000. Old North State Trust LLC boosted its holdings in Schlumberger by 100.2% in the 1st quarter. Old North State Trust LLC now owns 871 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 436 shares during the period. Finally, Lenox Wealth Management Inc. boosted its holdings in Schlumberger by 41.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 256 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on SLB. Tudor Pickering downgraded shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target for the company. in a report on Monday, April 22nd. SunTrust Banks increased their price target on shares of Schlumberger to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. BMO Capital Markets set a $44.00 price target on shares of Schlumberger and gave the company a “hold” rating in a report on Monday, April 22nd. Bank of America reissued a “buy” rating and issued a $51.00 price target (down from $60.00) on shares of Schlumberger in a report on Tuesday, June 25th. Finally, Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Schlumberger has an average rating of “Hold” and a consensus target price of $52.17.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. On average, analysts forecast that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.
In related news, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the sale, the executive vice president now owns 130,000 shares in the company, valued at approximately $5,060,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the sale, the insider now owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. Company 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.
Further Reading: Cost of Equity For A Business, Investors
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