Bank of Stockton boosted its position in shares of Schlumberger Limited. (NYSE:SLB) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,418 shares of the oil and gas company’s stock after buying an additional 3,351 shares during the period. Bank of Stockton’s holdings in Schlumberger were worth $1,038,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Meyer Handelman Co. boosted its stake in shares of Schlumberger by 12.3% in the 3rd quarter. Meyer Handelman Co. now owns 232,113 shares of the oil and gas company’s stock valued at $16,193,000 after purchasing an additional 25,494 shares in the last quarter. WFG Advisors LP boosted its stake in shares of Schlumberger by 51.5% in the 2nd quarter. WFG Advisors LP now owns 11,332 shares of the oil and gas company’s stock valued at $746,000 after purchasing an additional 3,853 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Schlumberger in the 2nd quarter valued at approximately $14,156,000. Wilkins Investment Counsel Inc. boosted its stake in shares of Schlumberger by 8.8% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 111,235 shares of the oil and gas company’s stock valued at $7,324,000 after purchasing an additional 8,950 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of Schlumberger by 1.2% in the 2nd quarter. King Luther Capital Management Corp now owns 861,701 shares of the oil and gas company’s stock valued at $56,734,000 after purchasing an additional 9,874 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company’s stock.
A number of equities research analysts have recently weighed in on SLB shares. Piper Jaffray Companies raised their price target on shares of Schlumberger from $74.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. ValuEngine downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Jefferies Group set a $78.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Thursday, January 4th. Royal Bank of Canada set a $73.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Thursday, December 21st. Finally, B. Riley set a $80.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $81.59.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The firm had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. sell-side analysts forecast that Schlumberger Limited. will post 2.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a yield of 2.98%. Schlumberger’s payout ratio is -175.44%.
In other news, insider Howard Guild sold 25,000 shares of Schlumberger stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $78.26, for a total value of $1,956,500.00. Following the completion of the sale, the insider now owns 22,410 shares in the company, valued at approximately $1,753,806.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of Schlumberger stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the completion of the sale, the chief financial officer now owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
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Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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