Meridian Investment Counsel Inc. Acquires 175 Shares of Schlumberger Limited. (SLB)
Meridian Investment Counsel Inc. increased its holdings in Schlumberger Limited. (NYSE:SLB) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,044 shares of the oil and gas company’s stock after acquiring an additional 175 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Schlumberger were worth $661,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Schlumberger by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock valued at $6,519,670,000 after acquiring an additional 2,790,227 shares during the period. Dodge & Cox increased its stake in Schlumberger by 12.8% in the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock valued at $3,178,193,000 after buying an additional 5,494,165 shares during the period. Bank of New York Mellon Corp increased its stake in Schlumberger by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock valued at $2,082,673,000 after buying an additional 477,006 shares during the period. Northern Trust Corp increased its stake in Schlumberger by 2.9% in the 2nd quarter. Northern Trust Corp now owns 18,762,468 shares of the oil and gas company’s stock valued at $1,235,321,000 after buying an additional 536,928 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in Schlumberger by 103.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock valued at $1,055,136,000 after buying an additional 8,167,945 shares during the period. 79.76% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Tore I. Sandvold sold 3,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the sale, the director now directly owns 1,500 shares in the company, valued at approximately $93,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.
Shares of Schlumberger Limited. (NYSE SLB) traded up $0.95 during midday trading on Monday, hitting $64.49. 6,152,641 shares of the company’s stock traded hands, compared to its average volume of 7,126,698. The stock has a market cap of $88,019.55, a price-to-earnings ratio of 49.26, a P/E/G ratio of 1.94 and a beta of 1.01. Schlumberger Limited. has a 52 week low of $61.02 and a 52 week high of $87.84. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. equities research analysts forecast that Schlumberger Limited. will post 1.47 earnings per share for the current year.
The firm 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 $0.50 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 3.10%. Schlumberger’s dividend payout ratio is presently 512.83%.
Several equities analysts have issued reports on the stock. Goldman Sachs Group cut shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective on the stock. in a research note on Monday, November 13th. Zacks Investment Research raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. B. Riley reissued a “buy” rating on shares of Schlumberger in a research note on Friday, November 3rd. SunTrust Banks reissued a “hold” rating on shares of Schlumberger in a research note on Tuesday, October 31st. Finally, Loop Capital dropped their price objective on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger presently has an average rating of “Buy” and an average price target 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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