Bedrijfstakpensioenfonds Voor DE Media PNO cut its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 17.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,500 shares of the oil and gas company’s stock after selling 22,500 shares during the quarter. Bedrijfstakpensioenfonds Voor DE Media PNO’s holdings in Schlumberger were worth $6,366,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in Schlumberger by 20.1% during the 3rd quarter. American Century Companies Inc. now owns 10,218,188 shares of the oil and gas company’s stock worth $622,492,000 after acquiring an additional 1,707,050 shares in the last quarter. Stockman Wealth Management Inc. lifted its stake in Schlumberger by 12.2% during the 3rd quarter. Stockman Wealth Management Inc. now owns 34,906 shares of the oil and gas company’s stock worth $2,126,000 after acquiring an additional 3,805 shares in the last quarter. Grisanti Capital Management LLC lifted its stake in Schlumberger by 80.2% during the 3rd quarter. Grisanti Capital Management LLC now owns 166,654 shares of the oil and gas company’s stock worth $10,152,000 after acquiring an additional 74,192 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in Schlumberger by 1.8% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 61,391 shares of the oil and gas company’s stock worth $3,740,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Beach Investment Management LLC. acquired a new position in Schlumberger during the 3rd quarter worth about $355,000. Institutional investors and hedge funds own 78.47% of the company’s stock.
SLB stock opened at $50.40 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. Schlumberger Limited. has a 1 year low of $50.00 and a 1 year high of $80.35. The stock has a market capitalization of $72.12 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 5.14 and a beta of 1.03.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, December 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.
In other news, CFO Simon Ayat sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the sale, the chief financial officer now owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Marks bought 8,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were acquired at an average cost of $60.31 per share, for a total transaction of $482,480.00. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.
SLB has been the topic of several research reports. ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Jefferies Financial Group reduced their price target on Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, September 26th. Citigroup reduced their price target on Schlumberger from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. Tudor Pickering lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Bank of America started coverage on Schlumberger in a research report on Wednesday, October 17th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $76.84.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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