Becker Capital Management Inc. Boosts Holdings in Schlumberger Limited. (SLB)
Becker Capital Management Inc. raised its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 4.2% during the third quarter, HoldingsChannel.com reports. The firm owned 489,453 shares of the oil and gas company’s stock after purchasing an additional 19,830 shares during the period. Becker Capital Management Inc.’s holdings in Schlumberger were worth $34,144,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Aviance Capital Management LLC purchased a new position in shares of Schlumberger in the 2nd quarter worth approximately $100,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Schlumberger in the 2nd quarter worth approximately $107,000. Tradewinds Capital Management LLC grew its position in shares of Schlumberger by 22.3% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after buying an additional 298 shares during the last quarter. Jacobi Capital Management LLC grew its position in shares of Schlumberger by 95.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after buying an additional 1,000 shares during the last quarter. Finally, Atlantic Trust LLC purchased a new position in shares of Schlumberger in the 2nd quarter worth approximately $137,000. 79.31% of the stock is currently owned by institutional investors and hedge funds.
SLB has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $79.00 to $76.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 12th. Jefferies Group reiterated a “buy” rating and issued a $80.00 target price on shares of Schlumberger in a research note on Friday, September 29th. Citigroup lifted their target price on shares of Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Cowen set a $80.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, Royal Bank of Canada set a $86.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Schlumberger currently has an average rating of “Buy” and an average target price of $79.37.
Schlumberger Limited. (NYSE SLB) opened at $74.90 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40. Schlumberger Limited. has a 12 month low of $61.02 and a 12 month high of $87.84. The stock has a market cap of $103,760.00, a price-to-earnings ratio of 192.05, a P/E/G ratio of 1.53 and a beta of 1.01.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. During the same period in the previous year, the business posted $0.25 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. research analysts anticipate that Schlumberger Limited. will post 1.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Wednesday, December 6th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s payout ratio is presently 512.82%.
In related news, Director Tore I. Sandvold sold 3,500 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the completion of the sale, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,945. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.
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Schlumberger Company Profile
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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