Private Wealth Partners LLC Reduces Position in Schlumberger Limited. (NYSE:SLB)
Private Wealth Partners LLC cut its position in shares of Schlumberger Limited. (NYSE:SLB) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,250 shares of the oil and gas company’s stock after selling 500 shares during the period. Private Wealth Partners LLC’s holdings in Schlumberger were worth $566,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Chesley Taft & Associates LLC boosted its holdings in Schlumberger by 2.1% in the 2nd quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock worth $854,000 after acquiring an additional 450 shares during the period. BTC Capital Management Inc. raised its position in shares of Schlumberger by 3.6% during the 2nd quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock valued at $3,520,000 after acquiring an additional 3,056 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of Schlumberger by 44.3% during the 1st quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock valued at $5,833,000 after acquiring an additional 41,076 shares in the last quarter. Manning & Napier Group LLC raised its position in shares of Schlumberger by 4.6% during the 2nd quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock valued at $136,608,000 after acquiring an additional 152,088 shares in the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. raised its position in shares of Schlumberger by 31.2% during the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 31,794 shares of the oil and gas company’s stock valued at $1,385,000 after acquiring an additional 7,566 shares in the last quarter. 77.19% 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 on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the stock in a transaction on Thursday, July 25th. The stock was 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 directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Shares of NYSE:SLB traded up $0.41 on Thursday, hitting $34.10. The company’s stock had a trading volume of 3,153,380 shares, compared to its average volume of 10,708,089. Schlumberger Limited. has a 12 month low of $31.11 and a 12 month high of $65.61. The company has a market capitalization of $47.16 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 2.14 and a beta of 1.44. The stock’s 50-day moving average is $37.59 and its two-hundred day moving average is $40.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The company had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited. will post 1.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid 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 5.87%. Schlumberger’s payout ratio is 123.46%.
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.
Further Reading: Are Wall Street analysts’ stock ratings worth following?
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited. (NYSE:SLB).
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.