Pekin Singer Strauss Asset Management IL Grows Position in Schlumberger Limited. (SLB)
Pekin Singer Strauss Asset Management IL increased its stake in Schlumberger Limited. (NYSE:SLB) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,007 shares of the oil and gas company’s stock after buying an additional 1,310 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in Schlumberger were worth $1,465,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SLB. First Eagle Investment Management LLC raised its stake in Schlumberger by 103.9% in the second quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock worth $1,055,136,000 after buying an additional 8,167,945 shares in the last quarter. Dodge & Cox grew its holdings in Schlumberger by 12.8% in the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after purchasing an additional 5,494,165 shares during the period. American Century Companies Inc. grew its holdings in Schlumberger by 33.5% in the second quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock worth $731,990,000 after purchasing an additional 2,791,675 shares during the period. Vanguard Group Inc. grew its holdings in Schlumberger by 2.9% in the second quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock worth $6,519,670,000 after purchasing an additional 2,790,227 shares during the period. Finally, Capital Research Global Investors grew its holdings in Schlumberger by 13.8% in the second quarter. Capital Research Global Investors now owns 16,460,016 shares of the oil and gas company’s stock worth $1,083,727,000 after purchasing an additional 1,993,829 shares during the period. 79.31% of the stock is owned by institutional investors.
In related news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction that occurred on 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 owns 1,500 shares in the company, valued at $93,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The firm had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. sell-side analysts forecast that Schlumberger Limited. will post 1.46 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Tuesday, December 5th. Schlumberger’s payout ratio is 512.82%.
A number of brokerages have weighed in on SLB. Cowen set a $85.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a report on Thursday. Jefferies Group set a $78.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a report on Thursday, January 4th. B. Riley set a $80.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a report on Wednesday, January 3rd. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Royal Bank of Canada set a $73.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a report on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Schlumberger presently has an average rating of “Buy” and a consensus price target of $79.56.
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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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