Smith Moore & CO. increased its position in shares of Schlumberger Limited (NYSE:SLB) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,117 shares of the oil and gas company’s stock after purchasing an additional 404 shares during the period. Smith Moore & CO.’s holdings in Schlumberger were worth $356,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Van Leeuwen & Company LLC purchased a new stake in Schlumberger in the second quarter valued at $345,000. PSI Advisors LLC lifted its position in Schlumberger by 7.8% in the second quarter. PSI Advisors LLC now owns 13,765 shares of the oil and gas company’s stock valued at $440,000 after acquiring an additional 1,000 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Schlumberger by 105.1% in the second quarter. BNP Paribas Arbitrage SA now owns 1,524,480 shares of the oil and gas company’s stock valued at $48,799,000 after buying an additional 781,122 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Schlumberger by 82.2% in the second quarter. Van ECK Associates Corp now owns 17,168,957 shares of the oil and gas company’s stock valued at $549,578,000 after buying an additional 7,746,152 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its holdings in shares of Schlumberger by 5.9% in the second quarter. Dana Investment Advisors Inc. now owns 23,443 shares of the oil and gas company’s stock valued at $750,000 after buying an additional 1,315 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Shares of NYSE:SLB opened at $29.24 on Thursday. The company has a market cap of $40.89 billion, a PE ratio of 40.61 and a beta of 2.39. The company’s 50-day moving average price is $28.33 and its 200 day moving average price is $29.52. Schlumberger Limited has a fifty-two week low of $13.70 and a fifty-two week high of $36.87. The company has a quick ratio of 1.00, a current ratio of 1.37 and a debt-to-equity ratio of 1.20.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Wednesday, September 1st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.71%. Schlumberger’s payout ratio is currently 73.53%.
Several research analysts recently issued reports on SLB shares. HSBC raised shares of Schlumberger from a “reduce” rating to a “hold” rating and increased their price target for the stock from $18.10 to $25.00 in a report on Wednesday, August 4th. Cowen restated an “outperform” rating and set a $29.03 target price (down from $32.00) on shares of Schlumberger in a research report on Monday, July 26th. Morgan Stanley increased their price target on shares of Schlumberger from $32.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, July 9th. TheStreet upgraded shares of Schlumberger from a “d+” rating to a “c-” rating in a research report on Thursday, June 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price target on shares of Schlumberger in a research report on Thursday, September 9th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $29.84.
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.
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