Portland Global Advisors LLC boosted its holdings in Schlumberger Limited. (NYSE:SLB) by 3.8% during the 1st quarter, Holdings Channel reports. The firm owned 42,577 shares of the oil and gas company’s stock after acquiring an additional 1,550 shares during the period. Portland Global Advisors LLC’s holdings in Schlumberger were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. MUFG Securities EMEA plc lifted its holdings in Schlumberger by 144.0% during the 4th quarter. MUFG Securities EMEA plc now owns 237,926 shares of the oil and gas company’s stock worth $8,584,000 after purchasing an additional 140,403 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Schlumberger during the 3rd quarter worth about $9,798,000. Lee Danner & Bass Inc. lifted its holdings in Schlumberger by 11.4% during the 4th quarter. Lee Danner & Bass Inc. now owns 128,987 shares of the oil and gas company’s stock worth $4,654,000 after purchasing an additional 13,203 shares in the last quarter. B. Riley Wealth Management Inc. purchased a new stake in Schlumberger during the 3rd quarter worth about $219,000. Finally, Csenge Advisory Group purchased a new stake in Schlumberger during the 3rd quarter worth about $164,000. 78.94% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on SLB shares. Citigroup dropped their price objective on Schlumberger from $57.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, January 4th. Royal Bank of Canada set a $58.00 price objective on Schlumberger and gave the stock a “buy” rating in a report on Friday, January 18th. Goldman Sachs Group started coverage on Schlumberger in a report on Sunday, March 10th. They set a “buy” rating and a $55.00 price objective on the stock. Barclays dropped their price objective on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 9th. Finally, Raymond James reissued a “hold” rating on shares of Schlumberger in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.00.
Schlumberger (NYSE:SLB) last announced its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.82 billion. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. Research analysts forecast that Schlumberger Limited. will post 1.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.00 dividend on an annualized basis and a yield of 4.39%. Schlumberger’s dividend payout ratio is currently 123.46%.
In other Schlumberger news, EVP Peuch Olivier Le sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total value of $660,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.48% of the stock is owned by corporate insiders.
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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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