Meeder Asset Management Inc. trimmed its position in Schlumberger Limited. (NYSE:SLB) by 83.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,049 shares of the oil and gas company’s stock after selling 21,175 shares during the quarter. Meeder Asset Management Inc.’s holdings in Schlumberger were worth $273,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SLB. Aviance Capital Management LLC acquired a new position in Schlumberger in the 2nd quarter valued at $100,000. FNY Partners Fund LP acquired a new position in Schlumberger in the 4th quarter valued at $101,000. Mountain Capital Investment Advisors Inc acquired a new position in Schlumberger in the 2nd quarter valued at $107,000. Atlantic Trust LLC acquired a new position in Schlumberger in the 2nd quarter valued at $137,000. Finally, Legacy Advisors LLC acquired a new position in Schlumberger in the 3rd quarter valued at $146,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.
Schlumberger stock opened at $64.78 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $89,651.19, a price-to-earnings ratio of 43.19, a PEG ratio of 5.01 and a beta of 1.03. Schlumberger Limited. has a 12 month low of $61.02 and a 12 month high of $80.89.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a yield of 3.09%. Schlumberger’s dividend payout ratio is presently 133.33%.
Several analysts have recently issued reports on the company. Royal Bank of Canada set a $73.00 target price on Schlumberger and gave the stock a “buy” rating in a report on Thursday, December 21st. Barclays set a $70.00 target price on Schlumberger and gave the stock a “hold” rating in a report on Saturday, March 24th. UBS set a $95.00 target price on Schlumberger and gave the stock a “buy” rating in a report on Monday, January 22nd. Zacks Investment Research lowered Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Schlumberger currently has a consensus rating of “Buy” and a consensus price target of $80.96.
In other news, insider Mogharbel Khaled Al bought 3,000 shares of the company’s stock in a transaction on Wednesday, March 28th. The stock was purchased at an average cost of $64.30 per share, for a total transaction of $192,900.00. Following the completion of the transaction, the insider now owns 30,482 shares of the company’s stock, valued at $1,959,992.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the transaction, the chief financial officer now owns 138,827 shares of the company’s stock, valued at $10,947,897.22. The disclosure for this sale can be found here. Insiders acquired 18,000 shares of company stock valued at $1,163,650 over the last quarter. Corporate insiders own 0.48% of the company’s stock.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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