YorkBridge Wealth Partners LLC decreased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 5.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 10,276 shares of the oil and gas company’s stock after selling 604 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in Schlumberger were worth $408,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Schlumberger by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after buying an additional 1,125,484 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Schlumberger by 9.7% during the first quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock worth $595,174,000 after buying an additional 1,203,997 shares in the last quarter. Norges Bank purchased a new stake in shares of Schlumberger during the fourth quarter worth $486,635,000. American Century Companies Inc. grew its holdings in shares of Schlumberger by 15.5% during the fourth quarter. American Century Companies Inc. now owns 11,801,880 shares of the oil and gas company’s stock worth $425,812,000 after buying an additional 1,583,692 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Schlumberger by 53.5% during the fourth quarter. FMR LLC now owns 8,150,451 shares of the oil and gas company’s stock worth $294,067,000 after buying an additional 2,841,792 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.
In other Schlumberger news, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the transaction, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm had revenue of $8.27 billion for the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 5.05%. Schlumberger’s payout ratio is currently 123.46%.
A number of equities research analysts have recently issued reports on the stock. AltaCorp Capital reaffirmed a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. BMO Capital Markets set a $44.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a report on Monday, April 22nd. Morgan Stanley lowered shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a report on Monday, April 22nd. SunTrust Banks set a $75.00 target price on shares of Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Schlumberger presently has a consensus rating of “Hold” and an average price target of $52.17.
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.
See Also: Intrinsic Value
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