Cohen Lawrence B decreased its position in Schlumberger Limited. (NYSE:SLB) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,964 shares of the oil and gas company’s stock after selling 925 shares during the period. Cohen Lawrence B’s holdings in Schlumberger were worth $1,390,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Chesley Taft & Associates LLC lifted its position in Schlumberger by 2.1% during the second quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock worth $854,000 after buying an additional 450 shares during the period. BTC Capital Management Inc. raised its holdings in shares of Schlumberger by 3.6% in the 2nd quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock worth $3,520,000 after purchasing an additional 3,056 shares during the period. Griffin Asset Management Inc. raised its holdings in shares of Schlumberger by 44.3% in the 1st quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock worth $5,833,000 after purchasing an additional 41,076 shares during the period. Manning & Napier Group LLC raised its holdings in shares of Schlumberger by 4.6% in the 2nd quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock worth $136,608,000 after purchasing an additional 152,088 shares during the period. Finally, Taylor Cottrill Erickson & Associates Inc. raised its holdings in shares of Schlumberger by 31.2% in the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 31,794 shares of the oil and gas company’s stock worth $1,385,000 after purchasing an additional 7,566 shares during the period. 77.22% of the stock is currently owned by institutional investors and hedge funds.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the sale, the insider now owns 46,354 shares in the company, valued at approximately $1,881,508.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the sale, the executive vice president now owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The business had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.78%. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.
A number of research firms have recently commented on SLB. Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, June 7th. SunTrust Banks raised their price objective on Schlumberger to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Gabelli began coverage on Schlumberger in a report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price objective on the stock. Bank of America restated a “buy” rating and issued a $51.00 price objective (down from $60.00) on shares of Schlumberger in a report on Tuesday, June 25th. Finally, Tudor Pickering downgraded Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price objective on the stock. in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $52.17.
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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