Zullo Investment Group Inc. increased its stake in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 845.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,135 shares of the oil and gas company’s stock after acquiring an additional 1,015 shares during the period. Zullo Investment Group Inc.’s holdings in Schlumberger were worth $47,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SLB. Vanguard Group Inc. increased its stake in Schlumberger by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 121,361,420 shares of the oil and gas company’s stock valued at $5,013,440,000 after buying an additional 1,510,608 shares during the last quarter. BlackRock Inc. increased its stake in Schlumberger by 16.9% in the 4th quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock valued at $3,339,042,000 after buying an additional 16,123,949 shares during the last quarter. State Street Corp increased its stake in 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 valued at $2,753,092,000 after buying an additional 554,778 shares during the last quarter. Norges Bank acquired a new stake in Schlumberger in the 4th quarter valued at $938,856,000. Finally, GQG Partners LLC increased its stake in Schlumberger by 1,413.5% in the 1st quarter. GQG Partners LLC now owns 27,916,533 shares of the oil and gas company’s stock valued at $1,153,123,000 after buying an additional 26,072,056 shares during the last quarter. 78.71% of the stock is currently owned by institutional investors and hedge funds.
Schlumberger Stock Performance
NYSE SLB opened at $39.65 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $56.08 billion, a P/E ratio of 21.55, a P/E/G ratio of 0.51 and a beta of 1.81. Schlumberger Limited has a 12-month low of $26.48 and a 12-month high of $49.83. The firm has a 50-day moving average price of $35.97 and a two-hundred day moving average price of $39.53.
Schlumberger Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, September 6th. Schlumberger’s dividend payout ratio is currently 38.04%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on SLB. Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. The Goldman Sachs Group lowered their price objective on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Barclays boosted their price objective on shares of Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. Finally, Cowen boosted their price objective on shares of Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.01.
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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