Price T Rowe Associates Inc. MD reduced its stake in Schlumberger Limited (NYSE:SLB – Get Rating) by 0.1% during the third quarter, Holdings Channel.com reports. The firm owned 1,833,888 shares of the oil and gas company’s stock after selling 1,878 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Schlumberger were worth $65,838,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the stock. Primecap Management Co. CA raised its holdings in Schlumberger by 11.0% in the 3rd quarter. Primecap Management Co. CA now owns 139,100 shares of the oil and gas company’s stock worth $4,994,000 after purchasing an additional 13,800 shares during the period. Poehling Capital Management INC. raised its holdings in Schlumberger by 1.7% during the third quarter. Poehling Capital Management INC. now owns 29,973 shares of the oil and gas company’s stock valued at $1,076,000 after acquiring an additional 488 shares during the period. Quadrature Capital Ltd raised its holdings in Schlumberger by 52.4% during the third quarter. Quadrature Capital Ltd now owns 76,915 shares of the oil and gas company’s stock valued at $2,763,000 after acquiring an additional 26,438 shares during the period. Quantamental Technologies LLC raised its holdings in Schlumberger by 36.4% during the third quarter. Quantamental Technologies LLC now owns 28,853 shares of the oil and gas company’s stock valued at $1,036,000 after acquiring an additional 7,694 shares during the period. Finally, Laidlaw Wealth Management LLC bought a new stake in Schlumberger during the third quarter valued at about $292,000. 80.22% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
SLB has been the subject of a number of research analyst reports. Griffin Securities restated a “buy” rating on shares of Schlumberger in a research report on Monday, January 16th. Barclays raised their price objective on Schlumberger from $62.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, January 25th. Raymond James initiated coverage on Schlumberger in a research report on Friday, December 9th. They set an “outperform” rating and a $65.00 price objective for the company. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Wednesday, January 25th. Finally, Citigroup lifted their price target on Schlumberger from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, January 24th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $62.38.
Schlumberger Stock Performance
Shares of NYSE:SLB opened at $48.84 on Tuesday. The company has a market capitalization of $69.75 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.44 and a beta of 1.77. Schlumberger Limited has a 52 week low of $30.65 and a 52 week high of $62.78. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $54.91 and a 200 day moving average of $49.45.
Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $7.88 billion during the quarter, compared to the consensus estimate of $7.80 billion. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. Schlumberger’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, sell-side analysts predict that Schlumberger Limited will post 3.02 earnings per share for the current fiscal year.
Schlumberger Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Wednesday, February 8th will be issued a $0.25 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 2.05%. The ex-dividend date is Tuesday, February 7th. Schlumberger’s payout ratio is currently 41.67%.
Schlumberger Company Profile
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).
- Get a free copy of the StockNews.com research report on Schlumberger (SLB)
- First Republic: First Rate Risk or Time To Buy?
- These Hedge Funds Are Getting Crushed By SVB
- Buy The Dip In The Charles Schwab Corporation
- ZIM Integrated Shipping Services: Up 15% But Don’t Chase It
- FedEx Is A Buy Going Into Earnings
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB – Get Rating).
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.