Oregon Public Employees Retirement Fund Has $10.35 Million Position in Schlumberger Limited. (SLB)
Oregon Public Employees Retirement Fund lifted its stake in shares of Schlumberger Limited. (NYSE:SLB) by 1.8% during the third quarter, Holdings Channel reports. The fund owned 148,343 shares of the oil and gas company’s stock after purchasing an additional 2,596 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Schlumberger were worth $10,348,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Aviance Capital Management LLC acquired a new stake in Schlumberger in the 2nd quarter worth about $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in Schlumberger in the 2nd quarter worth about $107,000. Tradewinds Capital Management LLC boosted its stake in Schlumberger by 22.3% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after buying an additional 298 shares during the last quarter. Jacobi Capital Management LLC boosted its stake in Schlumberger by 95.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after buying an additional 1,000 shares during the last quarter. Finally, Atlantic Trust LLC acquired a new stake in Schlumberger in the 2nd quarter worth about $137,000. 79.31% of the stock is currently owned by institutional investors and hedge funds.
SLB has been the topic of a number of research analyst reports. Piper Jaffray Companies set a $74.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 21st. Goldman Sachs Group lowered Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price target on the stock. in a research note on Monday, November 13th. Royal Bank of Canada set a $73.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Thursday, December 21st. Scotiabank set a $80.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 21st. Finally, Deutsche Bank initiated coverage on Schlumberger in a research note on Tuesday, October 10th. They issued a “buy” rating and a $78.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $79.37.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. research analysts predict that Schlumberger Limited. will post 1.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. Schlumberger’s payout ratio is currently 512.82%.
In related news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total transaction of $219,205.00. Following the sale, the director now directly owns 1,500 shares in the company, valued at approximately $93,945. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.
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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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