Lathrop Investment Management Corp Has $2.83 Million Holdings in Schlumberger Limited. (NYSE:SLB)
Lathrop Investment Management Corp cut its holdings in Schlumberger Limited. (NYSE:SLB) by 6.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,823 shares of the oil and gas company’s stock after selling 9,773 shares during the period. Lathrop Investment Management Corp’s holdings in Schlumberger were worth $2,829,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Royal Fund Management LLC acquired a new position in shares of Schlumberger in the first quarter valued at about $26,000. Banco de Sabadell S.A grew its stake in Schlumberger by 66.7% during the first quarter. Banco de Sabadell S.A now owns 2,000 shares of the oil and gas company’s stock worth $27,000 after buying an additional 800 shares in the last quarter. Cornerstone Advisors Inc. grew its stake in Schlumberger by 83.4% during the first quarter. Cornerstone Advisors Inc. now owns 2,153 shares of the oil and gas company’s stock worth $29,000 after buying an additional 979 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in Schlumberger by 43.8% during the first quarter. Prime Capital Investment Advisors LLC now owns 2,668 shares of the oil and gas company’s stock worth $36,000 after buying an additional 812 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Schlumberger by 59.0% during the second quarter. Allworth Financial LP now owns 2,075 shares of the oil and gas company’s stock worth $38,000 after buying an additional 770 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.
NYSE SLB traded down $0.30 during trading hours on Friday, reaching $18.14. The company’s stock had a trading volume of 15,346,843 shares, compared to its average volume of 11,885,006. The firm has a fifty day simple moving average of $18.67 and a 200-day simple moving average of $21.96. The stock has a market cap of $25.59 billion, a P/E ratio of -1.15, a P/E/G ratio of 5.02 and a beta of 2.11. Schlumberger Limited. has a 52 week low of $11.87 and a 52 week high of $41.14. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.23 and a quick ratio of 0.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.50 dividend on an annualized basis and a yield of 2.76%. Schlumberger’s dividend payout ratio (DPR) is presently 34.01%.
In other Schlumberger news, EVP Patrick Schorn sold 34,468 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $17.83, for a total transaction of $614,564.44. Following the completion of the transaction, the executive vice president now owns 80,000 shares in the company, valued at approximately $1,426,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 14,822 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $19.19, for a total transaction of $284,434.18. Following the transaction, the executive vice president now owns 54,750 shares of the company’s stock, valued at approximately $1,050,652.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,290 shares of company stock valued at $1,506,249. 0.58% of the stock is owned by company insiders.
SLB has been the topic of a number of analyst reports. Sanford C. Bernstein upgraded shares of Schlumberger from an “underperform” rating to an “outperform” rating and reduced their price objective for the stock from $26.90 to $17.90 in a research note on Monday, April 6th. Northland Securities initiated coverage on shares of Schlumberger in a research note on Friday, May 29th. They set an “outperform” rating and a $20.00 price objective on the stock. Bank of America increased their price objective on shares of Schlumberger from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. increased their price objective on shares of Schlumberger from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Finally, Citigroup upgraded shares of Schlumberger from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $26.00 in a research note on Monday, July 27th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. Schlumberger presently has an average rating of “Hold” and an average target price of $22.72.
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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