Schlumberger Limited. (SLB) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. lowered its position in shares of Schlumberger Limited. (NYSE:SLB) by 17.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,127,603 shares of the oil and gas company’s stock after selling 665,622 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of Schlumberger worth $209,620,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Schlumberger during the second quarter valued at approximately $13,121,000. Lake Street Advisors Group LLC acquired a new position in shares of Schlumberger during the fourth quarter valued at approximately $848,000. Financial Partners Capital Management LLC raised its holdings in shares of Schlumberger by 3.9% during the first quarter. Financial Partners Capital Management LLC now owns 60,575 shares of the oil and gas company’s stock valued at $3,924,000 after acquiring an additional 2,281 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of Schlumberger by 19.0% during the first quarter. Stephens Inc. AR now owns 76,526 shares of the oil and gas company’s stock valued at $4,957,000 after acquiring an additional 12,193 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in shares of Schlumberger by 80.9% during the first quarter. WINTON GROUP Ltd now owns 48,019 shares of the oil and gas company’s stock valued at $3,111,000 after acquiring an additional 21,468 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on SLB. Jefferies Financial Group set a $80.00 price target on Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. Seaport Global Securities set a $72.00 price target on Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. Citigroup cut their price target on Schlumberger from $78.00 to $77.00 and set a “buy” rating for the company in a report on Monday, July 23rd. Credit Suisse Group increased their price target on Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $80.00 price target on shares of Schlumberger in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $79.91.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.35 billion. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. equities research analysts predict that Schlumberger Limited. will post 1.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Wednesday, September 5th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 4th. This represents a $2.00 annualized dividend and a yield of 3.07%. Schlumberger’s payout ratio is 133.33%.
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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