Marathon Capital Management raised its holdings in Schlumberger Limited. (NYSE:SLB) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,385 shares of the oil and gas company’s stock after buying an additional 1,325 shares during the period. Marathon Capital Management’s holdings in Schlumberger were worth $611,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Washington Trust Bank boosted its holdings in shares of Schlumberger by 4.3% during the 1st quarter. Washington Trust Bank now owns 5,719 shares of the oil and gas company’s stock worth $249,000 after buying an additional 237 shares during the period. Lenox Wealth Management Inc. boosted its holdings in shares of Schlumberger by 41.1% during the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after buying an additional 256 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Schlumberger by 1.0% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock worth $1,010,000 after buying an additional 262 shares during the period. Monarch Capital Management Inc. boosted its holdings in shares of Schlumberger by 1.3% during the 1st quarter. Monarch Capital Management Inc. now owns 21,414 shares of the oil and gas company’s stock worth $933,000 after buying an additional 285 shares during the period. Finally, Cetera Advisor Networks LLC boosted its holdings in shares of Schlumberger by 2.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 10,746 shares of the oil and gas company’s stock worth $471,000 after buying an additional 286 shares during the period. Hedge funds and other institutional investors own 77.24% of the company’s stock.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the sale, the insider now owns 46,354 shares in the company, valued at approximately $1,881,508.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was 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 of the company’s stock, valued at approximately $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The business had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Schlumberger Limited. will post 1.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is 123.46%.
Several brokerages recently commented on SLB. Bank of America reaffirmed a “buy” rating and set a $51.00 target price (down previously from $60.00) on shares of Schlumberger in a report on Tuesday, June 25th. Stifel Nicolaus raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, June 7th. Piper Jaffray Companies set a $40.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, July 1st. SunTrust Banks lifted their target price on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of Schlumberger in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.17.
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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