Creative Financial Designs Inc. ADV raised its holdings in Schlumberger Limited. (NYSE:SLB) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,892 shares of the oil and gas company’s stock after buying an additional 329 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Schlumberger were worth $187,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of SLB. Nuveen Asset Management LLC increased its stake in Schlumberger by 14,172.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 7,796,324 shares of the oil and gas company’s stock valued at $309,825,000 after buying an additional 7,741,700 shares during the last quarter. Invesco Ltd. increased its stake in Schlumberger by 57.3% in the 2nd quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock valued at $663,804,000 after buying an additional 6,087,455 shares during the last quarter. Mackenzie Financial Corp increased its stake in Schlumberger by 14,241.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,921,974 shares of the oil and gas company’s stock valued at $116,119,000 after buying an additional 2,901,600 shares during the last quarter. BlackRock Inc. increased its stake in shares of Schlumberger by 2.7% during the 2nd quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock worth $3,571,386,000 after purchasing an additional 2,340,320 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Schlumberger by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock worth $4,477,227,000 after purchasing an additional 1,715,548 shares during the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.
Several research firms have recently weighed in on SLB. Citigroup lowered their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. ValuEngine upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cowen lowered their price objective on shares of Schlumberger from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday. Morgan Stanley set a $50.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday. Finally, TheStreet lowered shares of Schlumberger from a “c” rating to a “d+” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $44.82.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.50 billion. Schlumberger had a negative net margin of 30.22% and a positive return on equity of 6.00%. Schlumberger’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. Sell-side analysts forecast that Schlumberger Limited. will post 1.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.70%. The ex-dividend date is Tuesday, December 3rd. Schlumberger’s payout ratio is 123.46%.
In related news, VP Simon Farrant sold 5,000 shares of Schlumberger stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $33.55, for a total transaction of $167,750.00. Following the completion of the sale, the vice president now owns 20,316 shares of the company’s stock, valued at approximately $681,601.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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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