Sheaff Brock Investment Advisors LLC Trims Stock Position in Schlumberger Limited. (NYSE:SLB)
Sheaff Brock Investment Advisors LLC lowered its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,015 shares of the oil and gas company’s stock after selling 794 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Schlumberger were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Schlumberger by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock valued at $593,754,000 after purchasing an additional 1,125,484 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Schlumberger by 9.7% during the 1st quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock valued at $595,174,000 after purchasing an additional 1,203,997 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Schlumberger by 6.4% during the 2nd quarter. Fisher Asset Management LLC now owns 11,816,154 shares of the oil and gas company’s stock valued at $469,574,000 after purchasing an additional 709,200 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Schlumberger by 0.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,713,663 shares of the oil and gas company’s stock valued at $227,061,000 after purchasing an additional 45,809 shares during the last quarter. Finally, Kiltearn Partners LLP increased its position in shares of Schlumberger by 7.5% during the 2nd quarter. Kiltearn Partners LLP now owns 4,974,860 shares of the oil and gas company’s stock valued at $197,701,000 after purchasing an additional 347,200 shares during the last quarter. 77.22% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the transaction, the executive vice president now owns 130,000 shares in the company, valued at approximately $5,060,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephanie Cox sold 24,057 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the transaction, the insider now owns 46,354 shares in the company, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The company had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Research analysts expect that Schlumberger Limited. will post 1.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a dividend yield of 6.39%. Schlumberger’s dividend payout ratio is presently 123.46%.
Several research firms recently issued reports on SLB. SunTrust Banks increased their target price on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Stifel Nicolaus raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, June 7th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Piper Jaffray Companies set a $40.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Bank of America restated a “buy” rating and issued a $51.00 price target (down from $60.00) on shares of Schlumberger in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.17.
Schlumberger Company Profile
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.
Recommended Story: Insider Trading
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.