Schlumberger Limited. (SLB) Shares Sold by Confluence Investment Management LLC
Confluence Investment Management LLC lessened its position in Schlumberger Limited. (NYSE:SLB) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 540,669 shares of the oil and gas company’s stock after selling 19,433 shares during the quarter. Confluence Investment Management LLC’s holdings in Schlumberger were worth $36,436,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of SLB. Marshwinds Advisory Co. increased its holdings in Schlumberger by 5.6% during the 4th quarter. Marshwinds Advisory Co. now owns 20,485 shares of the oil and gas company’s stock worth $1,380,000 after purchasing an additional 1,090 shares during the period. XR Securities LLC purchased a new stake in Schlumberger during the 4th quarter worth about $454,000. Beacon Financial Group increased its holdings in Schlumberger by 80.7% during the 4th quarter. Beacon Financial Group now owns 32,791 shares of the oil and gas company’s stock worth $2,210,000 after purchasing an additional 14,643 shares during the period. Atlantic Trust Group LLC increased its holdings in Schlumberger by 18.8% during the 3rd quarter. Atlantic Trust Group LLC now owns 337,066 shares of the oil and gas company’s stock worth $23,513,000 after purchasing an additional 53,243 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in Schlumberger by 3.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,362,491 shares of the oil and gas company’s stock worth $164,807,000 after purchasing an additional 78,120 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Several equities research analysts have weighed in on the company. SunTrust Banks upped their price target on Schlumberger from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Susquehanna Bancshares set a $88.00 price target on Schlumberger and gave the stock a “buy” rating in a report on Monday, January 22nd. Zacks Investment Research downgraded Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Barclays set a $75.00 price target on Schlumberger and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Finally, Loop Capital restated a “buy” rating and set a $82.00 price target (up previously from $77.00) on shares of Schlumberger in a report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $82.29.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.12 billion. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. research analysts anticipate that Schlumberger Limited. will post 2.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Wednesday, February 7th will be given a $0.50 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.11%. Schlumberger’s dividend payout ratio (DPR) is presently -175.44%.
In related news, insider Howard Guild sold 25,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the completion of the sale, the insider now directly owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Simon Ayat sold 75,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the sale, the chief financial officer now directly owns 138,827 shares of the company’s stock, valued at $10,947,897.22. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
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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