Stifel Financial Corp reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 14.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 782,856 shares of the oil and gas company’s stock after selling 131,998 shares during the period. Stifel Financial Corp’s holdings in Schlumberger were worth $25,059,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in SLB. NorthCoast Asset Management LLC lifted its position in shares of Schlumberger by 1.9% during the first quarter. NorthCoast Asset Management LLC now owns 17,211 shares of the oil and gas company’s stock worth $468,000 after purchasing an additional 317 shares during the last quarter. Keating Investment Counselors Inc. boosted its position in Schlumberger by 0.8% in the 2nd quarter. Keating Investment Counselors Inc. now owns 43,260 shares of the oil and gas company’s stock valued at $1,385,000 after buying an additional 350 shares during the period. Quadrant Capital Group LLC grew its stake in Schlumberger by 10.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,884 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 360 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Schlumberger by 2.8% during the first quarter. Coldstream Capital Management Inc. now owns 14,037 shares of the oil and gas company’s stock worth $382,000 after acquiring an additional 376 shares during the period. Finally, Busey Wealth Management raised its stake in shares of Schlumberger by 0.3% during the second quarter. Busey Wealth Management now owns 148,303 shares of the oil and gas company’s stock valued at $4,747,000 after acquiring an additional 378 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on SLB. Morgan Stanley upped their target price on Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. JPMorgan Chase & Co. upgraded Schlumberger from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $28.00 to $37.00 in a report on Thursday, October 7th. HSBC raised Schlumberger from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $18.10 to $25.00 in a research report on Wednesday, August 4th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Schlumberger in a research note on Thursday, September 9th. Finally, Cowen reaffirmed an “outperform” rating and set a $29.03 price target (down from $32.00) on shares of Schlumberger in a research report on Monday, July 26th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $31.30.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.52 billion. Schlumberger had a net margin of 4.72% and a return on equity of 9.96%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, equities research analysts forecast that Schlumberger Limited will post 1.25 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 7th. Investors of record on Wednesday, September 1st were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.50 dividend on an annualized basis and a yield of 1.53%. Schlumberger’s dividend payout ratio is currently 73.53%.
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 software and seismic businesses with its integrated offering of asset performance solutions.
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