Brown Brothers Harriman & Co. lessened its stake in Schlumberger Limited (NYSE:SLB) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,281 shares of the oil and gas company’s stock after selling 1,593 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Schlumberger were worth $681,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NorthCoast Asset Management LLC boosted its holdings in shares of Schlumberger by 1.9% in the 1st quarter. NorthCoast Asset Management LLC now owns 17,211 shares of the oil and gas company’s stock valued at $468,000 after buying an additional 317 shares during the last quarter. Keating Investment Counselors Inc. boosted its holdings in shares of 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 last quarter. Quadrant Capital Group LLC raised 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 valued at $124,000 after acquiring an additional 360 shares during the period. Coldstream Capital Management Inc. raised its stake in Schlumberger by 2.8% in the 1st quarter. Coldstream Capital Management Inc. now owns 14,037 shares of the oil and gas company’s stock valued at $382,000 after acquiring an additional 376 shares during the period. Finally, Busey Wealth Management raised its stake in Schlumberger by 0.3% in the 2nd 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 during the period. 76.26% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on SLB shares. Cowen restated an “outperform” rating and issued a $29.03 price target (down previously from $32.00) on shares of Schlumberger in a research note on Monday, July 26th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Schlumberger in a research report on Thursday, September 9th. HSBC raised Schlumberger from a “reduce” rating to a “hold” rating and raised their price objective for the company from $18.10 to $25.00 in a research note on Wednesday, August 4th. JPMorgan Chase & Co. upgraded Schlumberger from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $28.00 to $37.00 in a research report on Thursday, October 7th. Finally, Morgan Stanley lifted 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. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Buy” and a consensus target price of $31.30.
Schlumberger (NYSE:SLB) last posted its earnings results on Thursday, July 22nd. The oil and gas company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.52 billion. Schlumberger had a return on equity of 9.96% and a net margin of 4.72%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. Sell-side analysts predict that Schlumberger Limited will post 1.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 7th. Stockholders 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 dividend yield of 1.53%. Schlumberger’s dividend payout ratio (DPR) 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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