Natixis Has $5.22 Million Stake in Schlumberger Limited. (NYSE:SLB)
Natixis grew its holdings in Schlumberger Limited. (NYSE:SLB) by 378.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,346 shares of the oil and gas company’s stock after buying an additional 103,915 shares during the period. Natixis’ holdings in Schlumberger were worth $5,219,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LLBH Private Wealth Management LLC acquired a new position in Schlumberger in the 2nd quarter valued at $62,000. Seeyond raised its holdings in Schlumberger by 7.0% in the 2nd quarter. Seeyond now owns 53,987 shares of the oil and gas company’s stock valued at $2,145,000 after acquiring an additional 3,526 shares in the last quarter. Pinnacle Financial Partners Inc. raised its holdings in Schlumberger by 136.7% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 66,035 shares of the oil and gas company’s stock valued at $2,624,000 after acquiring an additional 38,136 shares in the last quarter. South Dakota Investment Council raised its holdings in Schlumberger by 4.6% in the 2nd quarter. South Dakota Investment Council now owns 1,378,918 shares of the oil and gas company’s stock valued at $54,798,000 after acquiring an additional 60,090 shares in the last quarter. Finally, Icon Wealth Partners LLC raised its holdings in Schlumberger by 119.7% in the 2nd quarter. Icon Wealth Partners LLC now owns 5,323 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 2,900 shares in the last quarter. 76.94% of the stock is owned by institutional investors.
SLB has been the subject of several analyst reports. Morgan Stanley raised Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a report on Tuesday. Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, June 7th. Gabelli began coverage on Schlumberger in a research note on Thursday, June 27th. They issued a “buy” rating and a $55.00 price target on the stock. Piper Jaffray Companies set a $40.00 price target on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Wells Fargo & Co decreased their price target on Schlumberger from $48.00 to $44.00 and set an “outperform” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.05.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The firm had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, equities analysts predict that Schlumberger Limited. will post 1.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.34%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
In other news, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were 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 directly owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
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.
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