Watch Point Trust Co raised its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 64,108 shares of the oil and gas company’s stock after buying an additional 2,394 shares during the period. Watch Point Trust Co’s holdings in Schlumberger were worth $2,190,000 at the end of the most recent reporting period.
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Other hedge funds and other institutional investors have also modified their holdings of the company. Quad Cities Investment Group LLC purchased a new stake in Schlumberger in the second quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Schlumberger during the 2nd quarter valued at about $32,000. Doyle Wealth Management bought a new stake in shares of Schlumberger during the 2nd quarter valued at about $33,000. Shamrock Asset Management LLC grew its stake in shares of Schlumberger by 49.6% during 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 period. Finally, Acima Private Wealth LLC grew its stake in shares of Schlumberger by 34.1% during the 3rd quarter. Acima Private Wealth LLC now owns 1,239 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 315 shares during the period. Institutional investors and hedge funds own 76.52% of the company’s stock.
A number of research analysts have recently weighed in on SLB shares. Bank of America set a $43.00 price objective on Schlumberger and gave the company a “buy” rating in a research report on Monday, October 21st. Cowen reduced their price objective on Schlumberger from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Morgan Stanley set a $50.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Finally, ValuEngine raised Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $44.82.
Shares of NYSE SLB traded up $0.26 during trading hours on Friday, hitting $36.34. 8,211,488 shares of the company traded hands, compared to its average volume of 10,844,604. The stock has a market capitalization of $50.83 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 3.45 and a beta of 1.49. The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average price is $33.95 and its 200 day moving average price is $36.68. Schlumberger Limited. has a 12 month low of $30.65 and a 12 month high of $51.29.
Schlumberger (NYSE:SLB) last released its earnings results 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. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. Equities analysts anticipate that Schlumberger Limited. will post 1.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Wednesday, December 4th will be given 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 currently 123.46%.
In other news, VP Simon Farrant sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 20,316 shares of the company’s stock, valued at approximately $681,601.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.
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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