APG Asset Management N.V. decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,434,404 shares of the oil and gas company’s stock after selling 247,975 shares during the quarter. APG Asset Management N.V. owned approximately 0.25% of Schlumberger worth $92,702,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Corsicana & Co. bought a new position in Schlumberger during the 2nd quarter worth $26,000. Sierra Capital LLC bought a new position in Schlumberger during the 1st quarter worth $26,000. Eagle Bay Advisors LLC bought a new position in Schlumberger during the 2nd quarter worth $27,000. Cowen Prime Advisors LLC bought a new position in Schlumberger during the 2nd quarter worth $27,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Schlumberger during the 1st quarter worth $28,000. 76.26% of the stock is owned by institutional investors and hedge funds.
Schlumberger stock opened at $32.76 on Thursday. The stock’s 50 day moving average is $28.73 and its 200 day moving average is $29.75. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.37 and a quick ratio of 1.00. The firm has a market cap of $45.81 billion, a P/E ratio of 45.50 and a beta of 2.39. Schlumberger Limited has a one year low of $13.70 and a one year high of $36.87.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 7th. Shareholders of record on Wednesday, September 1st were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, August 31st. Schlumberger’s dividend payout ratio (DPR) is presently 73.53%.
A number of research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Schlumberger from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $28.00 to $37.00 in a research report on Thursday, October 7th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Schlumberger in a research report on Thursday, September 9th. Cowen restated an “outperform” rating and issued a $29.03 price target (down previously from $32.00) on shares of Schlumberger in a research report on Monday, July 26th. HSBC upgraded Schlumberger from a “reduce” rating to a “hold” rating and raised their price target for the stock from $18.10 to $25.00 in a research report on Wednesday, August 4th. Finally, Morgan Stanley raised their price target on Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Buy” and an average price target of $31.30.
Schlumberger Company Profile
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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