Sei Investments Co. raised its stake in Schlumberger (NYSE:SLB) by 31.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,016,259 shares of the oil and gas company’s stock after purchasing an additional 240,824 shares during the quarter. Sei Investments Co. owned 0.07% of Schlumberger worth $68,485,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in SLB. FNY Partners Fund LP bought a new position in shares of Schlumberger during the fourth quarter valued at approximately $101,000. Aviance Capital Management LLC bought a new position in shares of Schlumberger during the second quarter valued at approximately $100,000. Rational Advisors LLC bought a new position in shares of Schlumberger during the fourth quarter valued at approximately $108,000. American Research & Management Co. raised its holdings in shares of Schlumberger by 81.1% during the fourth quarter. American Research & Management Co. now owns 1,731 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 775 shares in the last quarter. Finally, Atlantic Trust LLC bought a new position in shares of Schlumberger during the second quarter valued at approximately $137,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.
A number of brokerages recently commented on SLB. SunTrust Banks upped their target price on Schlumberger from $72.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Susquehanna Bancshares set a $88.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Barclays set a $75.00 price target on Schlumberger and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of Schlumberger in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $81.08.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The firm had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.12 billion. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. equities analysts anticipate that Schlumberger will post 2.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th were paid a $0.50 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.94%. Schlumberger’s dividend payout ratio is currently 133.33%.
In related news, CEO Paal Kibsgaard bought 10,000 shares of the business’s stock in a transaction dated Monday, March 26th. The shares were purchased at an average cost of $64.68 per share, with a total value of $646,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mogharbel Khaled Al purchased 3,000 shares of the stock in a transaction dated Wednesday, March 28th. The shares were acquired at an average cost of $64.30 per share, for a total transaction of $192,900.00. Following the completion of the acquisition, the insider now owns 30,482 shares of the company’s stock, valued at $1,959,992.60. The disclosure for this purchase can be found here. Over the last three months, insiders bought 18,000 shares of company stock worth $1,163,650. Insiders own 0.48% of the company’s stock.
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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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