Schlumberger Limited. (SLB) Holdings Trimmed by Waverton Investment Management Ltd
Waverton Investment Management Ltd reduced its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,577,188 shares of the oil and gas company’s stock after selling 84,014 shares during the period. Schlumberger accounts for approximately 3.4% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 15th biggest holding. Waverton Investment Management Ltd’s holdings in Schlumberger were worth $56,905,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Kempner Capital Management Inc. grew its stake in shares of Schlumberger by 0.3% in the 4th quarter. Kempner Capital Management Inc. now owns 96,914 shares of the oil and gas company’s stock valued at $3,497,000 after buying an additional 276 shares during the period. Garde Capital Inc. grew its stake in shares of Schlumberger by 3.6% in the 3rd quarter. Garde Capital Inc. now owns 11,201 shares of the oil and gas company’s stock valued at $539,000 after buying an additional 390 shares during the period. Buckingham Capital Management Inc. grew its stake in shares of Schlumberger by 1.7% in the 3rd quarter. Buckingham Capital Management Inc. now owns 33,079 shares of the oil and gas company’s stock valued at $2,015,000 after buying an additional 543 shares during the period. Highwater Wealth Management LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $45,000. Finally, IMS Capital Management acquired a new stake in shares of Schlumberger in the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.
In other news, EVP Patrick Schorn bought 10,000 shares of the company’s stock in a transaction on Thursday, December 20th. The shares were purchased at an average price of $37.55 per share, with a total value of $375,500.00. Following the transaction, the executive vice president now directly owns 35,000 shares in the company, valued at $1,314,250. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the transaction, the chief financial officer now directly owns 234,008 shares in the company, valued at approximately $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.57 billion. During the same quarter last year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited. will post 1.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 4.84%. Schlumberger’s payout ratio is 133.33%.
Several brokerages have recently commented on SLB. Wolfe Research began coverage on Schlumberger in a research note on Wednesday, October 10th. They issued a “market perform” rating for the company. Credit Suisse Group reduced their target price on Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a research note on Monday, October 22nd. Bank of America restated a “buy” rating and issued a $52.00 target price (down from $69.00) on shares of Schlumberger in a research note on Monday, December 3rd. ValuEngine upgraded Schlumberger from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Morgan Stanley began coverage on Schlumberger in a research note on Tuesday, September 18th. They issued an “equal weight” rating and a $72.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $70.11.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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