Raymond James & Associates reduced its position in Schlumberger Limited. (NYSE:SLB) by 14.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,099,421 shares of the oil and gas company’s stock after selling 182,242 shares during the quarter. Raymond James & Associates owned approximately 0.08% of Schlumberger worth $39,667,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Soros Fund Management LLC acquired a new position in shares of Schlumberger during the third quarter worth approximately $3,046,000. Greylin Investment Mangement Inc. acquired a new position in shares of Schlumberger during the third quarter worth approximately $7,963,000. Fosun International Ltd acquired a new position in shares of Schlumberger during the third quarter worth approximately $1,847,000. Kentucky Retirement Systems acquired a new position in shares of Schlumberger during the third quarter worth approximately $9,798,000. Finally, Sound Shore Management Inc. CT acquired a new position in shares of Schlumberger during the third quarter worth approximately $61,845,000. Institutional investors own 78.31% of the company’s stock.
Several equities analysts have recently issued reports on SLB shares. Royal Bank of Canada set a $58.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Friday, January 18th. JPMorgan Chase & Co. downgraded Schlumberger from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $73.00 to $48.00 in a research report on Tuesday, December 11th. Zacks Investment Research upgraded Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Credit Suisse Group downgraded Schlumberger from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $65.00 to $44.00 in a research report on Wednesday, December 19th. Finally, HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating in a research report on Monday, November 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $65.50.
Shares of NYSE:SLB opened at $42.39 on Friday. Schlumberger Limited. has a 12 month low of $34.99 and a 12 month high of $75.43. The company has a market cap of $58.75 billion, a P/E ratio of 26.17, a PEG ratio of 2.30 and a beta of 1.34. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 18th. The oil and gas company reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The firm had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. As a group, analysts anticipate that Schlumberger Limited. will post 1.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Wednesday, February 13th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 12th. This represents a $2.00 annualized dividend and a yield of 4.72%. Schlumberger’s payout ratio is 123.46%.
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Schlumberger Company Profile
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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