Schlumberger Limited. (SLB) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. lifted its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 6.2% during the third quarter, HoldingsChannel.com reports. The firm owned 43,552 shares of the oil and gas company’s stock after acquiring an additional 2,539 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Schlumberger were worth $3,039,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SLB. Aviance Capital Management LLC acquired a new stake in shares of Schlumberger during the second quarter worth about $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Schlumberger during the second quarter worth about $107,000. Tradewinds Capital Management LLC raised its position in shares of Schlumberger by 22.3% during the second quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 298 shares during the period. Jacobi Capital Management LLC raised its position in shares of Schlumberger by 95.8% during the second quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,000 shares during the period. Finally, Atlantic Trust LLC acquired a new stake in shares of Schlumberger during the second quarter worth about $137,000. 79.31% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on SLB shares. Piper Jaffray Companies set a $74.00 price target on Schlumberger and gave the stock a “buy” rating in a research report on Saturday, October 21st. Goldman Sachs Group downgraded Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective for the company. in a report on Monday, November 13th. Royal Bank of Canada set a $73.00 price objective on Schlumberger and gave the stock a “buy” rating in a report on Thursday, December 21st. Scotiabank set a $80.00 price objective on Schlumberger and gave the stock a “buy” rating in a report on Saturday, October 21st. Finally, Deutsche Bank initiated coverage on Schlumberger in a report on Tuesday, October 10th. They set a “buy” rating and a $78.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Schlumberger currently has a consensus rating of “Buy” and a consensus target price of $79.37.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. research analysts anticipate that Schlumberger Limited. will post 1.46 earnings per share for the current fiscal year.
The company also recently declared 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 is Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 2.65%. Schlumberger’s payout ratio is currently 512.82%.
In related news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total transaction of $219,205.00. Following the completion of the sale, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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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