Private Wealth Partners LLC Has $7.69 Million Position in Schlumberger Limited. (SLB)
Private Wealth Partners LLC decreased its position in Schlumberger Limited. (NYSE:SLB) by 4.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 110,199 shares of the oil and gas company’s stock after selling 5,558 shares during the period. Schlumberger accounts for 1.5% of Private Wealth Partners LLC’s holdings, making the stock its 20th biggest position. Private Wealth Partners LLC’s holdings in Schlumberger were worth $7,687,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Comprehensive Portfolio Management LLC purchased a new stake in Schlumberger in the 2nd quarter valued at about $885,000. Bank of Montreal Can grew its position in shares of Schlumberger by 41.6% during the 2nd quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock valued at $105,414,000 after acquiring an additional 470,615 shares during the period. WFG Advisors LP grew its position in shares of Schlumberger by 51.5% during the 2nd quarter. WFG Advisors LP now owns 11,332 shares of the oil and gas company’s stock valued at $746,000 after acquiring an additional 3,853 shares during the period. Denver Investment Advisors LLC grew its position in shares of Schlumberger by 5.8% during the 2nd quarter. Denver Investment Advisors LLC now owns 160,191 shares of the oil and gas company’s stock valued at $10,547,000 after acquiring an additional 8,817 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in shares of Schlumberger during the 2nd quarter valued at approximately $14,156,000. Hedge funds and other institutional investors own 79.35% of the company’s stock.
Schlumberger Limited. (NYSE:SLB) opened at $77.17 on Wednesday. The company has a market cap of $108,008.88, a P/E ratio of 60.44, a P/E/G ratio of 1.60 and a beta of 1.01. Schlumberger Limited. has a fifty-two week low of $61.02 and a fifty-two week high of $87.84. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40.
In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of the firm’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 transaction, the director now directly 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 can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on SLB shares. Goldman Sachs Group downgraded shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price for the company. in a research report on Monday, November 13th. Piper Jaffray Companies set a $74.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 21st. Citigroup reduced their target price on shares of Schlumberger from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Barclays set a $70.00 target price on shares of Schlumberger and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Credit Suisse Group set a $71.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $79.56.
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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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