First Trust Advisors LP lifted its holdings in Schlumberger Limited. (NYSE:SLB) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 325,469 shares of the oil and gas company’s stock after buying an additional 43,490 shares during the period. First Trust Advisors LP’s holdings in Schlumberger were worth $11,121,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC lifted its holdings in Schlumberger by 14,172.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,796,324 shares of the oil and gas company’s stock worth $309,825,000 after buying an additional 7,741,700 shares in the last quarter. Invesco Ltd. increased its position in shares of Schlumberger by 57.3% during the second quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock worth $663,804,000 after acquiring an additional 6,087,455 shares in the last quarter. Mackenzie Financial Corp grew its position in Schlumberger by 14,241.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,921,974 shares of the oil and gas company’s stock worth $116,119,000 after purchasing an additional 2,901,600 shares in the last quarter. BlackRock Inc. grew its position in Schlumberger by 2.7% in the 2nd quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock worth $3,571,386,000 after purchasing an additional 2,340,320 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Schlumberger by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock worth $4,477,227,000 after purchasing an additional 1,715,548 shares in the last quarter. 75.49% of the stock is owned by hedge funds and other institutional investors.
In other Schlumberger news, CAO Howard Guild sold 9,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.36, for a total transaction of $318,240.00. Also, VP Simon Farrant sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 20,316 shares in the company, valued at $681,601.80. The disclosure for this sale can be found here. Insiders have sold 83,350 shares of company stock worth $2,969,872 in the last ninety days. Insiders own 0.48% of the company’s stock.
A number of research analysts have weighed in on the stock. TheStreet cut shares of Schlumberger from a “c” rating to a “d+” rating in a research note on Friday, October 18th. Royal Bank of Canada set a $40.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, October 21st. Cowen dropped their price target on shares of Schlumberger from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Co decreased their target price on shares of Schlumberger from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Bank of America set a $43.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $44.94.
NYSE:SLB opened at $36.14 on Monday. The firm has a 50-day simple moving average of $34.09 and a two-hundred day simple moving average of $36.17. Schlumberger Limited. has a fifty-two week low of $30.65 and a fifty-two week high of $48.88. The firm has a market cap of $50.70 billion, a P/E ratio of 22.31, a P/E/G ratio of 3.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 1.29.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Schlumberger had a negative net margin of 30.22% and a positive return on equity of 6.00%. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger Limited. will post 1.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders 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 yield of 5.53%. The ex-dividend date of this dividend is Tuesday, December 3rd. Schlumberger’s dividend payout ratio is currently 123.46%.
Schlumberger Company Profile
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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