MHI Funds LLC lifted its stake in Schlumberger Limited. (NYSE:SLB) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,430 shares of the oil and gas company’s stock after purchasing an additional 544 shares during the period. MHI Funds LLC’s holdings in Schlumberger were worth $186,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SLB. Quad Cities Investment Group LLC bought a new position in Schlumberger during the 2nd quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Schlumberger in the 2nd quarter valued at about $32,000. Doyle Wealth Management bought a new stake in shares of Schlumberger in the 2nd quarter valued at about $33,000. Meridian Wealth Management LLC bought a new stake in shares of Schlumberger in the 1st quarter valued at about $38,000. Finally, Shamrock Asset Management LLC raised its position in shares of Schlumberger by 49.6% in the 2nd quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 76.69% of the company’s stock.
Several equities analysts recently commented on SLB shares. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. Citigroup decreased their price objective on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased their price objective on shares of Schlumberger from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Finally, Piper Jaffray Companies set a $40.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $49.39.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the transaction, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the transaction, the executive vice president now directly owns 130,000 shares of the company’s stock, valued at $5,060,900. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
SLB traded down $0.04 during trading on Thursday, reaching $31.91. 692,767 shares of the company’s stock were exchanged, compared to its average volume of 11,808,971. Schlumberger Limited. has a 1 year low of $30.65 and a 1 year high of $61.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01. The stock has a market capitalization of $45.04 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. The company’s fifty day simple moving average is $34.17 and its 200-day simple moving average is $37.91.
Schlumberger (NYSE:SLB) last posted its quarterly 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. 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 analyst estimates of $8.11 billion. During the same period last year, the firm posted $0.43 EPS. Schlumberger’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts forecast that Schlumberger Limited. will post 1.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend was Tuesday, September 3rd. Schlumberger’s dividend payout ratio is presently 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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