Peapack Gladstone Financial Corp Reduces Holdings in Schlumberger Limited. (SLB)
Peapack Gladstone Financial Corp trimmed its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 184,433 shares of the oil and gas company’s stock after selling 943 shares during the period. Peapack Gladstone Financial Corp’s holdings in Schlumberger were worth $11,948,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of SLB. Randolph Co Inc acquired a new stake in shares of Schlumberger in the 4th quarter worth about $10,771,000. Twin Tree Management LP increased its holdings in shares of Schlumberger by 135.8% in the 4th quarter. Twin Tree Management LP now owns 51,268 shares of the oil and gas company’s stock worth $3,455,000 after acquiring an additional 194,616 shares during the period. Lake Street Advisors Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter worth about $848,000. MUFG Securities EMEA plc acquired a new stake in shares of Schlumberger in the 4th quarter worth about $7,278,000. Finally, Valicenti Advisory Services Inc. increased its holdings in shares of Schlumberger by 5.8% in the 4th quarter. Valicenti Advisory Services Inc. now owns 58,347 shares of the oil and gas company’s stock worth $3,932,000 after acquiring an additional 3,223 shares during the period. 78.55% of the stock is currently owned by institutional investors.
Schlumberger opened at $66.83 on Friday, Marketbeat.com reports. Schlumberger Limited. has a twelve month low of $61.02 and a twelve month high of $80.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a market cap of $94.63 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 5.76 and a beta of 1.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Wednesday, June 6th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 5th. This represents a $2.00 annualized dividend and a dividend yield of 2.99%. Schlumberger’s dividend payout ratio (DPR) is 133.33%.
In other news, EVP Patrick Schorn acquired 5,000 shares of Schlumberger stock in a transaction on Monday, March 26th. The stock was bought at an average cost of $64.79 per share, with a total value of $323,950.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Claudia Jaramillo sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $72.68, for a total transaction of $218,040.00. Following the sale, the vice president now directly owns 6,162 shares of the company’s stock, valued at $447,854.16. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 18,000 shares of company stock valued at $1,163,650. Insiders own 0.48% of the company’s stock.
A number of analysts recently weighed in on SLB shares. SunTrust Banks set a $82.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, April 23rd. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Seaport Global Securities set a $76.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, April 23rd. Credit Suisse Group set a $86.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Wednesday, March 14th. Finally, Citigroup decreased their target price on shares of Schlumberger from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $80.00.
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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