Advisor Group Holdings Inc. grew its holdings in Schlumberger Limited (NYSE:SLB – Get Rating) by 24.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 277,811 shares of the oil and gas company’s stock after buying an additional 54,280 shares during the period. Advisor Group Holdings Inc.’s holdings in Schlumberger were worth $10,469,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Schlumberger by 16.9% in the 4th quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock worth $3,339,042,000 after buying an additional 16,123,949 shares in the last quarter. State Street Corp lifted its holdings in shares of Schlumberger by 0.6% in the 4th quarter. State Street Corp now owns 91,556,288 shares of the oil and gas company’s stock worth $2,753,092,000 after acquiring an additional 554,778 shares during the last quarter. Norges Bank bought a new stake in shares of Schlumberger in the 4th quarter worth about $938,856,000. Boston Partners lifted its holdings in shares of Schlumberger by 6.5% in the 4th quarter. Boston Partners now owns 24,189,830 shares of the oil and gas company’s stock worth $725,420,000 after acquiring an additional 1,474,462 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Schlumberger by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 23,408,484 shares of the oil and gas company’s stock worth $699,052,000 after acquiring an additional 714,053 shares during the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages recently weighed in on SLB. Cowen lifted their price objective on shares of Schlumberger from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, July 25th. The Goldman Sachs Group decreased their price objective on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Stifel Nicolaus lifted their price objective on shares of Schlumberger from $44.00 to $50.00 in a report on Friday, April 8th. HSBC upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.60 to $44.20 in a report on Wednesday, April 27th. Finally, Morgan Stanley decreased their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $47.15.
Schlumberger Stock Down 3.1 %
Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 2 EPS for the current fiscal year.
Schlumberger Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, September 6th. Schlumberger’s dividend payout ratio is presently 38.04%.
Insiders Place Their Bets
In other Schlumberger news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total transaction of $204,552,500.00. Following the sale, the insider now owns 23,069,461 shares of the company’s stock, valued at approximately $392,180,837. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Vijay Kasibhatla sold 20,000 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $43.32, for a total value of $866,400.00. Following the sale, the director now directly owns 46,529 shares of the company’s stock, valued at approximately $2,015,636.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total transaction of $204,552,500.00. Following the completion of the sale, the insider now directly owns 23,069,461 shares in the company, valued at $392,180,837. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,067,459 shares of company stock valued at $206,090,521. Insiders own 0.28% of the company’s stock.
Schlumberger Company Profile
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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