Mitchell Mcleod Pugh & Williams Inc. trimmed its stake in Schlumberger Limited. (NYSE:SLB) by 25.7% in the fourth quarter, Holdings Channel reports. The fund owned 8,490 shares of the oil and gas company’s stock after selling 2,935 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Schlumberger were worth $307,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Soros Fund Management LLC acquired a new position in Schlumberger in the third quarter valued at $3,046,000. Greylin Investment Mangement Inc. acquired a new position in Schlumberger in the third quarter valued at $7,963,000. Glenview State Bank Trust DEPT. increased its stake in Schlumberger by 46.6% in the third quarter. Glenview State Bank Trust DEPT. now owns 31,593 shares of the oil and gas company’s stock valued at $1,925,000 after purchasing an additional 10,045 shares during the last quarter. Fosun International Ltd acquired a new position in Schlumberger in the third quarter valued at $1,847,000. Finally, Kentucky Retirement Systems acquired a new position in Schlumberger in the third quarter valued at $9,798,000. 77.67% of the stock is owned by institutional investors.
In related news, EVP Patrick Schorn bought 10,000 shares of the firm’s stock in a transaction dated Thursday, December 20th. The stock was bought at an average price of $37.55 per share, with a total value of $375,500.00. Following the completion of the transaction, the executive vice president now directly owns 35,000 shares of the company’s stock, valued at $1,314,250. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.57 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that Schlumberger Limited. will post 1.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 5th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Tuesday, December 4th. Schlumberger’s payout ratio is 133.33%.
Several equities analysts recently commented on SLB shares. Zacks Investment Research lowered Schlumberger from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. JPMorgan Chase & Co. lowered Schlumberger from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $73.00 to $48.00 in a research note on Tuesday, December 11th. Bank of America started coverage on Schlumberger in a research note on Wednesday, October 17th. They issued a “buy” rating for the company. Cowen dropped their target price on Schlumberger from $77.00 to $75.00 and set an “outperform” rating for the company in a research note on Monday, October 22nd. Finally, Morgan Stanley started coverage on Schlumberger in a research note on Tuesday, September 18th. They issued an “equal weight” rating and a $72.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.11.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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