Schlumberger Limited. (SLB) Shares Sold by Monarch Capital Management Inc.
Monarch Capital Management Inc. lessened its stake in shares of Schlumberger Limited. (NYSE:SLB) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,271 shares of the oil and gas company’s stock after selling 1,700 shares during the period. Monarch Capital Management Inc.’s holdings in Schlumberger were worth $1,113,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Zions Bancorporation purchased a new stake in shares of Schlumberger in the 3rd quarter valued at $131,000. Truvestments Capital LLC purchased a new stake in shares of Schlumberger in the 3rd quarter valued at $132,000. Whitener Capital Management Inc. purchased a new stake in shares of Schlumberger in the 3rd quarter valued at $137,000. Westbourne Investment Advisors Inc. purchased a new stake in shares of Schlumberger in the 3rd quarter valued at $158,000. Finally, NuWave Investment Management LLC boosted its holdings in shares of Schlumberger by 5,526.5% in the 3rd quarter. NuWave Investment Management LLC now owns 2,757 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 2,708 shares during the last quarter. 77.74% of the stock is currently owned by institutional investors.
SLB has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Schlumberger from $92.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Citigroup dropped their price objective on shares of Schlumberger from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Bank of America initiated coverage on shares of Schlumberger in a report on Wednesday, October 17th. They issued a “buy” rating on the stock. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Finally, HSBC raised shares of Schlumberger from a “hold” rating to a “buy” rating in a report on Monday, November 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. Schlumberger currently has an average rating of “Buy” and an average target price of $74.50.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Research analysts forecast that Schlumberger Limited. will post 1.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, December 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s dividend payout ratio is presently 133.33%.
In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the transaction, the chief financial officer now directly owns 234,008 shares in the company, valued at $13,244,852.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.
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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