United Capital Management of KS Inc. acquired a new position in Schlumberger Limited. (NYSE:SLB) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 6,108 shares of the oil and gas company’s stock, valued at approximately $240,000.
Other institutional investors have also added to or reduced their stakes in the company. Ellis Investment Partners LLC purchased a new position in Schlumberger in the 1st quarter valued at about $26,000. CX Institutional lifted 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 in the last quarter. Quad Cities Investment Group LLC purchased a new position in Schlumberger in the 2nd quarter valued at about $32,000. Old North State Trust LLC lifted 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 in the last quarter. Finally, Lenox Wealth Management Inc. lifted 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 in the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.
A number of research firms have issued reports on SLB. Royal Bank of Canada reduced their target price on shares of Schlumberger to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Barclays reduced their target price on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 9th. Bank of America restated a “buy” rating and issued a $51.00 target price (down from $60.00) on shares of Schlumberger in a report on Tuesday, June 25th. Finally, Tudor Pickering lowered shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 target price on the stock. in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.17.
Shares of NYSE SLB traded down $1.21 on Tuesday, reaching $34.78. 572,641 shares of the company traded hands, compared to its average volume of 9,670,741. Schlumberger Limited. has a fifty-two week low of $34.46 and a fifty-two week high of $67.31. The firm’s 50 day moving average is $39.14. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $49.77 billion, a PE ratio of 21.47, a PEG ratio of 2.35 and a beta of 1.44.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter in the prior year, the company posted $0.43 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts anticipate that Schlumberger Limited. will post 1.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is currently 123.46%.
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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