State of Alaska Department of Revenue Has $11.36 Million Position in Schlumberger Limited. (SLB)

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State of Alaska Department of Revenue boosted its position in shares of Schlumberger Limited. (NYSE:SLB) by 2.0% in the third quarter, Holdings Channel reports. The fund owned 186,461 shares of the oil and gas company’s stock after purchasing an additional 3,687 shares during the quarter. State of Alaska Department of Revenue’s holdings in Schlumberger were worth $11,358,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SLB. BlackRock Inc. increased its stake in Schlumberger by 0.4% during the 1st quarter. BlackRock Inc. now owns 88,043,418 shares of the oil and gas company’s stock valued at $5,703,455,000 after purchasing an additional 366,513 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Schlumberger by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after purchasing an additional 2,188,823 shares in the last quarter. Fisher Asset Management LLC increased its stake in Schlumberger by 5.5% during the 2nd quarter. Fisher Asset Management LLC now owns 6,190,872 shares of the oil and gas company’s stock valued at $414,974,000 after purchasing an additional 321,908 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Schlumberger by 2.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,163,762 shares of the oil and gas company’s stock valued at $399,288,000 after purchasing an additional 125,064 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Schlumberger by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,720,875 shares of the oil and gas company’s stock valued at $383,471,000 after purchasing an additional 164,182 shares in the last quarter. 78.43% of the stock is owned by institutional investors.

A number of research analysts have issued reports on SLB shares. Citigroup cut their price target on shares of Schlumberger from $79.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday, June 25th. Jefferies Financial Group set a $80.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Seaport Global Securities set a $72.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Credit Suisse Group upped their price target on shares of Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $80.00 price target on shares of Schlumberger in a research note on Monday, July 23rd. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Schlumberger currently has a consensus rating of “Buy” and an average target price of $78.57.

NYSE:SLB opened at $60.82 on Thursday. The firm has a market capitalization of $84.32 billion, a PE ratio of 40.55, a price-to-earnings-growth ratio of 5.68 and a beta of 0.93. Schlumberger Limited. has a 1-year low of $59.25 and a 1-year high of $80.35. The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.35 billion. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. Research analysts predict that Schlumberger Limited. will post 1.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Wednesday, September 5th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.29%. Schlumberger’s payout ratio is currently 133.33%.

In other Schlumberger news, Director Michael E. Marks acquired 8,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were purchased at an average price of $60.31 per share, for a total transaction of $482,480.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Schlumberger Company Profile

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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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).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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