First Fiduciary Investment Counsel Inc. boosted its position in Schlumberger Limited. (NYSE:SLB) by 56.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 243,312 shares of the oil and gas company’s stock after purchasing an additional 87,873 shares during the period. Schlumberger comprises 3.1% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 15th biggest position. First Fiduciary Investment Counsel Inc.’s holdings in Schlumberger were worth $16,973,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Harding Loevner LP increased its holdings in shares of Schlumberger by 1,337.3% in the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after buying an additional 129,289,552 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Schlumberger by 103.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock worth $1,055,136,000 after buying an additional 8,167,945 shares during the last quarter. Dodge & Cox increased its holdings in shares of Schlumberger by 12.8% in the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after buying an additional 5,494,165 shares during the last quarter. Capital International Investors increased its holdings in shares of Schlumberger by 74.8% in the 3rd quarter. Capital International Investors now owns 10,031,514 shares of the oil and gas company’s stock worth $699,798,000 after buying an additional 4,294,058 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Schlumberger by 33.5% during the 2nd quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock valued at $731,990,000 after purchasing an additional 2,791,675 shares during the last quarter. 78.94% of the stock is owned by institutional investors and hedge funds.
In other Schlumberger news, insider Howard Guild sold 25,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the transaction, the insider now owns 22,410 shares in the company, valued at $1,753,806.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the completion of the transaction, the chief financial officer now owns 138,827 shares in the company, valued at $10,947,897.22. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
Several equities analysts recently commented on the stock. ValuEngine lowered shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Bank of America raised shares of Schlumberger from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.50 to $75.00 in a report on Monday, February 26th. Susquehanna Bancshares set a $88.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, January 22nd. Zacks Investment Research raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Finally, UBS Group set a $95.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $81.59.
Schlumberger Limited. (NYSE:SLB) opened at $66.63 on Wednesday. Schlumberger Limited. has a 1-year low of $61.02 and a 1-year high of $80.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95. The company has a market cap of $91,561.02, a price-to-earnings ratio of 44.11, a PEG ratio of 5.10 and a beta of 1.03.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The firm had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $8.12 billion. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. research analysts expect that Schlumberger Limited. will post 2.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Wednesday, February 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, February 6th. Schlumberger’s payout ratio is -183.49%.
Schlumberger Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.