EverSource Wealth Advisors LLC increased its holdings in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 54.2% during the 1st quarter, HoldingsChannel reports. The fund owned 2,000 shares of the oil and gas company’s stock after buying an additional 703 shares during the period. EverSource Wealth Advisors LLC’s holdings in Schlumberger were worth $82,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Kings Point Capital Management bought a new stake in Schlumberger during the first quarter worth about $28,000. Vontobel Holding Ltd. boosted its stake in Schlumberger by 1.0% during the first quarter. Vontobel Holding Ltd. now owns 139,449 shares of the oil and gas company’s stock worth $5,887,000 after acquiring an additional 1,386 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Schlumberger by 76.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 274,158 shares of the oil and gas company’s stock worth $11,326,000 after acquiring an additional 119,209 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in Schlumberger by 3.4% during the first quarter. Wetherby Asset Management Inc. now owns 42,352 shares of the oil and gas company’s stock worth $1,750,000 after acquiring an additional 1,389 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Schlumberger by 2.3% during the first quarter. ProShare Advisors LLC now owns 474,038 shares of the oil and gas company’s stock worth $19,581,000 after acquiring an additional 10,693 shares in the last quarter. Institutional investors own 78.71% of the company’s stock.
Wall Street Analysts Forecast Growth
SLB has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. Cowen lifted their target price on shares of Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, July 25th. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Morgan Stanley decreased their target price on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. Finally, Benchmark raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.01.
Schlumberger Stock Down 3.2 %
Schlumberger (NYSE:SLB – Get Rating) last announced its earnings results on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. On average, research analysts expect that Schlumberger Limited will post 2.02 earnings per share for the current year.
Schlumberger Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be given a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.82%. Schlumberger’s payout ratio is currently 38.04%.
Schlumberger Company Profile
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
- Get a free copy of the StockNews.com research report on Schlumberger (SLB)
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