Schlumberger Limited. (SLB) Shares Sold by First United Bank Trust
First United Bank Trust trimmed its stake in shares of Schlumberger Limited. (NYSE:SLB) by 6.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,985 shares of the oil and gas company’s stock after selling 796 shares during the quarter. First United Bank Trust’s holdings in Schlumberger were worth $836,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Schlumberger by 2.9% during 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. Dodge & Cox raised its holdings in shares of Schlumberger by 12.8% during 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. Northern Trust Corp raised its holdings in shares of Schlumberger by 2.9% during the second quarter. Northern Trust Corp now owns 18,762,468 shares of the oil and gas company’s stock worth $1,235,321,000 after purchasing an additional 536,928 shares during the period. Northern Cross LLC raised its holdings in shares of Schlumberger by 3.8% during the second quarter. Northern Cross LLC now owns 16,896,879 shares of the oil and gas company’s stock worth $1,112,491,000 after purchasing an additional 620,270 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Schlumberger by 13.8% during 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. Hedge funds and other institutional investors own 79.32% of the company’s stock.
A number of analysts have weighed in on SLB shares. Goldman Sachs Group cut shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price on the stock. in a report on Monday, November 13th. Piper Jaffray Companies set a $74.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Saturday, October 21st. BMO Capital Markets reissued a “buy” rating and set a $74.00 target price on shares of Schlumberger in a report on Wednesday, September 6th. Sanford C. Bernstein reissued an “outperform” rating and set a $80.00 target price on shares of Schlumberger in a report on Wednesday, September 6th. Finally, Citigroup dropped their target price on shares of Schlumberger from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $79.31.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. The business had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $7.91 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. analysts expect that Schlumberger Limited. will post 1.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th will be paid 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 3.11%. Schlumberger’s payout ratio is 512.82%.
In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,945. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION WARNING: “Schlumberger Limited. (SLB) Shares Sold by First United Bank Trust” was published by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.watchlistnews.com/schlumberger-limited-slb-shares-sold-by-first-united-bank-trust/1774017.html.
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.
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.