Stoneridge Investment Partners LLC Purchases Shares of 3,923 Schlumberger Limited. (SLB)
Stoneridge Investment Partners LLC purchased a new stake in Schlumberger Limited. (NYSE:SLB) in the third quarter, Holdings Channel reports. The firm purchased 3,923 shares of the oil and gas company’s stock, valued at approximately $274,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of SLB. First Eagle Investment Management LLC grew its stake in Schlumberger by 103.9% during the 2nd 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 during the last quarter. Dodge & Cox grew its stake in shares of 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 in the last quarter. American Century Companies Inc. grew its stake in shares of 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 79.31% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Piper Jaffray Companies set a $74.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 21st. FBR & Co reissued a “buy” rating on shares of Schlumberger in a research note on Friday, October 20th. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, Credit Suisse Group set a $71.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Schlumberger presently has an average rating of “Buy” and a consensus target price of $79.37.
In related news, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $93,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.
Schlumberger Limited. (NYSE SLB) opened at $74.90 on Wednesday. The firm has a market capitalization of $103,760.00, a price-to-earnings ratio of 192.05, a P/E/G ratio of 1.53 and a beta of 1.01. Schlumberger Limited. has a 52-week low of $61.02 and a 52-week high of $87.84. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. equities analysts predict that Schlumberger Limited. will post 1.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Wednesday, December 6th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, December 5th. Schlumberger’s payout ratio is 512.82%.
Schlumberger Company Profile
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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