K.J. Harrison & Partners Inc lifted its holdings in Schlumberger Limited. (NYSE:SLB) by 37.3% during the third quarter, Holdings Channel reports. The institutional investor owned 14,730 shares of the oil and gas company’s stock after buying an additional 4,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Schlumberger were worth $897,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SLB. Mainstay Capital Management LLC ADV boosted its stake in shares of Schlumberger by 3,884.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 6,603 shares during the period. Truvestments Capital LLC purchased a new position in shares of Schlumberger during the 3rd quarter worth about $132,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Schlumberger by 909.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 20,137 shares during the period. McKinley Carter Wealth Services Inc. purchased a new position in shares of Schlumberger during the 1st quarter worth about $154,000. Finally, Squar Milner Financial Services LLC purchased a new position in shares of Schlumberger during the 2nd quarter worth about $157,000. Hedge funds and other institutional investors own 78.52% of the company’s stock.
A number of research firms recently commented on SLB. Credit Suisse Group lifted their price target on shares of Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $80.00 price target on shares of Schlumberger in a research note on Monday, July 23rd. Citigroup dropped their price target on shares of Schlumberger from $78.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, July 23rd. Jefferies Financial Group set a $80.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. Finally, Seaport Global Securities set a $72.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the stock. Schlumberger currently has an average rating of “Buy” and an average target price of $76.84.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. As a group, research analysts expect that Schlumberger Limited. will post 1.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, December 5th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 3.78%. Schlumberger’s dividend payout ratio (DPR) is 133.33%.
In related news, Director Michael E. Marks acquired 8,000 shares of the stock in a transaction on Thursday, September 6th. The stock was bought at an average cost of $60.31 per share, with a total value of $482,480.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.48% of the stock is owned by insiders.
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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