Laffer Investments trimmed its position in Schlumberger Limited. (NYSE:SLB) by 6.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 36,990 shares of the oil and gas company’s stock after selling 2,605 shares during the period. Laffer Investments’ holdings in Schlumberger were worth $2,580,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Harding Loevner LP lifted its stake in 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 purchasing an additional 129,289,552 shares in 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. increased its holdings in shares of Schlumberger by 33.5% in the 2nd quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock worth $731,990,000 after buying an additional 2,791,675 shares during the last quarter. 78.94% of the stock is owned by institutional investors and hedge funds.
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%.
A number of equities analysts have recently commented on SLB shares. Zacks Investment Research raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Goldman Sachs Group lowered shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price on the stock. in a report on Monday, November 13th. Royal Bank of Canada set a $73.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Thursday, December 21st. ValuEngine lowered shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, B. Riley set a $80.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $81.59.
In other Schlumberger news, CFO Simon Ayat sold 75,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the transaction, the chief financial officer now owns 138,827 shares in the company, valued at $10,947,897.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 approximately $1,753,806.60. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
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.