Ferguson Wellman Capital Management Inc. grew its position in Schlumberger Limited. (NYSE:SLB) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 560,191 shares of the oil and gas company’s stock after acquiring an additional 7,760 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Schlumberger were worth $19,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in SLB. Quad Cities Investment Group LLC bought a new stake in Schlumberger in the 2nd quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in Schlumberger in the 2nd quarter worth approximately $32,000. Doyle Wealth Management bought a new stake in Schlumberger in the 2nd quarter worth approximately $33,000. Meridian Wealth Management LLC bought a new stake in Schlumberger in the 1st quarter worth approximately $38,000. Finally, Shamrock Asset Management LLC increased its stake in Schlumberger by 49.6% in the 2nd quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 352 shares during the last quarter. 76.69% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the company. Citigroup cut their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Wells Fargo & Co cut their target price on Schlumberger from $48.00 to $44.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Piper Jaffray Companies set a $40.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. Barclays raised Schlumberger from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $45.00 to $50.00 in a research report on Monday, September 16th. Finally, Morgan Stanley cut their target price on Schlumberger from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $49.39.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. Schlumberger’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. On average, equities research analysts forecast that Schlumberger Limited. will post 1.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend was Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the transaction, the executive vice president now directly owns 130,000 shares in the company, valued at approximately $5,060,900. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
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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