Creative Planning decreased its position in shares of Schlumberger Limited. (NYSE:SLB) by 22.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,130 shares of the oil and gas company’s stock after selling 14,487 shares during the quarter. Creative Planning’s holdings in Schlumberger were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Fulcrum Capital LLC purchased a new stake in shares of Schlumberger during the third quarter worth approximately $7,301,000. Quad Cities Investment Group LLC acquired a new position in Schlumberger in the second quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in Schlumberger in the second quarter valued at approximately $32,000. Doyle Wealth Management acquired a new position in Schlumberger in the second quarter valued at approximately $33,000. Finally, Shamrock Asset Management LLC boosted its holdings in Schlumberger by 49.6% in the second 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 in the last quarter. 76.52% of the stock is currently owned by hedge funds and other institutional investors.
SLB stock opened at $36.34 on Friday. The company has a market capitalization of $50.83 billion, a P/E ratio of 22.43, a PEG ratio of 3.45 and a beta of 1.49. Schlumberger Limited. has a twelve month low of $30.65 and a twelve month high of $51.29. The business has a 50 day simple moving average of $33.95 and a 200-day simple moving average of $36.68. The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The company’s revenue was up .4% compared to the same quarter last year. Research analysts predict that Schlumberger Limited. will post 1.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Tuesday, December 3rd. Schlumberger’s dividend payout ratio is presently 123.46%.
In related news, VP Simon Farrant sold 5,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $33.55, for a total transaction of $167,750.00. Following the completion of the sale, the vice president now directly owns 20,316 shares of the company’s stock, valued at $681,601.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is owned by company insiders.
A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Wells Fargo & Co lowered their price target on Schlumberger from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Barclays set a $47.00 price target on Schlumberger and gave the company a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada set a $40.00 price target on Schlumberger and gave the company a “buy” rating in a report on Monday, October 21st. Finally, ValuEngine raised Schlumberger from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. Schlumberger currently has a consensus rating of “Buy” and an average price target of $44.82.
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.
Featured Story: Understanding the different types of bonds
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited. (NYSE:SLB).
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.