Private Advisor Group LLC cut its stake in Schlumberger Limited. (NYSE:SLB) by 25.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,059 shares of the oil and gas company’s stock after selling 7,821 shares during the quarter. Private Advisor Group LLC’s holdings in Schlumberger were worth $831,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Soros Fund Management LLC bought a new stake in Schlumberger during the third quarter valued at $3,046,000. Greylin Investment Mangement Inc. bought a new stake in Schlumberger during the third quarter valued at $7,963,000. Fosun International Ltd bought a new stake in Schlumberger during the third quarter valued at $1,847,000. Kentucky Retirement Systems bought a new stake in Schlumberger during the third quarter valued at $9,798,000. Finally, Sound Shore Management Inc. CT bought a new stake in Schlumberger during the third quarter valued at $61,845,000. Institutional investors own 78.31% of the company’s stock.
In other news, EVP Patrick Schorn purchased 10,000 shares of the company’s stock in a transaction on Thursday, December 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $375,500.00. Following the completion of the purchase, the executive vice president now directly owns 35,000 shares in the company, valued at approximately $1,314,250. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peuch Olivier Le sold 15,000 shares of Schlumberger stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total value of $660,000.00. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The firm had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited. will post 1.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Wednesday, February 13th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Tuesday, February 12th. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.
Several equities research analysts recently issued reports on the company. Jefferies Financial Group lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Royal Bank of Canada set a $58.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Friday, January 18th. Goldman Sachs Group assumed coverage on Schlumberger in a research note on Sunday, March 10th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Credit Suisse Group set a $44.00 price objective on Schlumberger and gave the company a “hold” rating in a research note on Friday, January 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Schlumberger has a consensus rating of “Hold” and a consensus price target of $66.00.
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Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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