M Holdings Securities Inc. Grows Position in Schlumberger Limited. (SLB)
M Holdings Securities Inc. increased its stake in shares of Schlumberger Limited. (NYSE:SLB) by 108.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,264 shares of the oil and gas company’s stock after buying an additional 4,294 shares during the quarter. M Holdings Securities Inc.’s holdings in Schlumberger were worth $544,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Comprehensive Portfolio Management LLC purchased a new stake in Schlumberger in the 2nd quarter valued at approximately $885,000. Bank of Montreal Can boosted its holdings in Schlumberger by 41.6% in the 2nd quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock valued at $105,414,000 after purchasing an additional 470,615 shares in the last quarter. Denver Investment Advisors LLC boosted its holdings in Schlumberger by 5.8% in the 2nd quarter. Denver Investment Advisors LLC now owns 160,191 shares of the oil and gas company’s stock valued at $10,547,000 after purchasing an additional 8,817 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Schlumberger in the 2nd quarter valued at approximately $14,156,000. Finally, SOL Capital Management CO boosted its holdings in Schlumberger by 8.3% in the 2nd quarter. SOL Capital Management CO now owns 5,226 shares of the oil and gas company’s stock valued at $344,000 after purchasing an additional 400 shares in the last quarter. 79.76% of the stock is currently owned by hedge funds and other institutional investors.
Schlumberger Limited. (NYSE SLB) opened at $62.09 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.53. Schlumberger Limited. has a 12-month low of $61.02 and a 12-month high of $87.84. The stock has a market capitalization of $86,398.79, a P/E ratio of 48.35, a P/E/G ratio of 1.90 and a beta of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Wednesday, December 6th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 3.22%. Schlumberger’s dividend payout ratio is currently 512.83%.
In related news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total transaction of $219,205.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $93,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.
Several equities research analysts have recently commented on SLB shares. Argus started coverage on Schlumberger in a research note on Monday, August 21st. They set a “buy” rating on the stock. Barclays set a $70.00 price target on Schlumberger and gave the stock a “hold” rating in a research note on Wednesday, October 25th. SunTrust Banks reissued a “hold” rating on shares of Schlumberger in a research note on Tuesday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target (down previously from $86.00) on shares of Schlumberger in a research note on Monday, October 16th. Finally, Citigroup boosted their price target on Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.31.
Schlumberger Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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