SeaCrest Wealth Management LLC boosted its position in Schlumberger Limited. (NYSE:SLB) by 9.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,656 shares of the oil and gas company’s stock after buying an additional 1,746 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Schlumberger were worth $672,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Schlumberger by 1.5% during the second quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock worth $4,477,227,000 after buying an additional 1,715,548 shares during the period. BlackRock Inc. lifted its position in Schlumberger by 2.7% in the second quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock worth $3,571,386,000 after purchasing an additional 2,340,320 shares during the period. Bank of New York Mellon Corp lifted its position in Schlumberger by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 27,028,270 shares of the oil and gas company’s stock worth $1,074,104,000 after purchasing an additional 96,574 shares during the period. Invesco Ltd. lifted its position in Schlumberger by 57.3% in the second quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock worth $663,804,000 after purchasing an additional 6,087,455 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Schlumberger by 6.4% in the second quarter. Fisher Asset Management LLC now owns 11,816,154 shares of the oil and gas company’s stock worth $469,574,000 after purchasing an additional 709,200 shares during the period. 76.69% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:SLB opened at $31.95 on Thursday. Schlumberger Limited. has a one year low of $30.65 and a one year high of $61.19. The stock has a fifty day moving average of $34.17 and a 200-day moving average of $37.91. The company has a market capitalization of $45.04 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.26%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
In other news, insider Stephanie Cox sold 24,057 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the sale, the insider now owns 46,354 shares in the company, valued at approximately $1,881,508.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the sale, the executive vice president now owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Citigroup cut their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. cut their target price on Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Morgan Stanley cut their target price on Schlumberger from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Bank of America cut their target price on Schlumberger from $51.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Finally, Wells Fargo & Co cut their target price on Schlumberger from $48.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $49.39.
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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