Mairs & Power INC Cuts Position in Schlumberger Limited. (SLB)
Mairs & Power INC reduced its stake in Schlumberger Limited. (NYSE:SLB) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,998,399 shares of the oil and gas company’s stock after selling 113,981 shares during the quarter. Mairs & Power INC owned 0.14% of Schlumberger worth $72,102,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. HC Financial Advisors Inc. increased its position in Schlumberger by 44.0% during the third quarter. HC Financial Advisors Inc. now owns 24,373 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 7,444 shares in the last quarter. Janus Henderson Group PLC increased its position in Schlumberger by 8.3% during the third quarter. Janus Henderson Group PLC now owns 1,410,813 shares of the oil and gas company’s stock worth $85,949,000 after buying an additional 107,672 shares in the last quarter. Bank of New York Mellon Corp increased its position in Schlumberger by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 31,019,971 shares of the oil and gas company’s stock worth $1,889,738,000 after buying an additional 1,558,478 shares in the last quarter. CI Investments Inc. increased its position in Schlumberger by 41.4% during the third quarter. CI Investments Inc. now owns 756,840 shares of the oil and gas company’s stock worth $46,107,000 after buying an additional 221,700 shares in the last quarter. Finally, FMR LLC increased its position in Schlumberger by 19.7% during the third quarter. FMR LLC now owns 5,308,659 shares of the oil and gas company’s stock worth $323,403,000 after buying an additional 873,548 shares in the last quarter. 78.90% of the stock is currently owned by institutional investors and hedge funds.
In other Schlumberger news, EVP Peuch Olivier Le sold 15,000 shares of the business’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total transaction of $660,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The firm had revenue of $8.18 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited. will post 1.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Wednesday, February 13th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Tuesday, February 12th. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
A number of equities research analysts have recently commented on the company. Jefferies Financial Group downgraded Schlumberger from a “buy” rating to a “hold” rating and lowered their price objective for the company from $50.00 to $45.00 in a research report on Friday, March 15th. HSBC raised Schlumberger from a “hold” rating to a “buy” rating in a research report on Sunday, December 2nd. Credit Suisse Group set a $44.00 price objective on Schlumberger and gave the company a “hold” rating in a research report on Friday, January 18th. Barclays set a $58.00 price objective on Schlumberger and gave the company a “hold” rating in a research report on Monday, December 10th. Finally, Goldman Sachs Group assumed coverage on Schlumberger in a research report on Sunday, March 10th. They issued a “buy” rating and a $55.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Schlumberger currently has a consensus rating of “Hold” and an average price target of $65.50.
Schlumberger Company Profile
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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