BTIM Corp. Has $5.50 Million Holdings in Schlumberger Limited. (SLB)
BTIM Corp. raised its position in shares of Schlumberger Limited. (NYSE:SLB) by 16.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,344 shares of the oil and gas company’s stock after acquiring an additional 17,730 shares during the period. BTIM Corp.’s holdings in Schlumberger were worth $5,504,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. MUFG Securities EMEA plc grew its holdings in shares of Schlumberger by 144.0% in the fourth 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 during the last quarter. Kentucky Retirement Systems bought a new position in shares of Schlumberger in the third quarter worth about $9,798,000. Lee Danner & Bass Inc. grew its holdings in shares of Schlumberger by 11.4% in the fourth 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 during the last quarter. B. Riley Wealth Management Inc. bought a new position in shares of Schlumberger in the third quarter worth about $219,000. Finally, Csenge Advisory Group bought a new position in shares of Schlumberger in the third quarter worth about $164,000. Institutional investors and hedge funds own 78.94% of the company’s stock.
A number of research analysts have recently commented on the stock. Stifel Nicolaus set a $50.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a report on Monday. BMO Capital Markets set a $44.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a research note on Monday. Morgan Stanley set a $51.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a research note on Monday. Tudor Pickering lowered shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price objective for the company. in a research note on Monday. Finally, Barclays lowered their price objective on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $60.45.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Thursday, April 18th. The oil and gas company reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.82 billion. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. Analysts predict that Schlumberger Limited. will post 1.6 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Tuesday, June 4th. Schlumberger’s payout ratio is 123.46%.
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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