Schlumberger Limited. (SLB) Holdings Lifted by Principal Financial Group Inc.
Principal Financial Group Inc. raised its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,904,627 shares of the oil and gas company’s stock after buying an additional 258,353 shares during the period. Principal Financial Group Inc. owned about 0.21% of Schlumberger worth $188,162,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Schlumberger by 0.4% during the first quarter. BlackRock Inc. now owns 88,043,418 shares of the oil and gas company’s stock valued at $5,703,455,000 after buying an additional 366,513 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Schlumberger by 6.8% during the fourth quarter. Bank of New York Mellon Corp now owns 27,353,450 shares of the oil and gas company’s stock valued at $1,843,349,000 after buying an additional 1,733,171 shares during the period. Northern Cross LLC boosted its position in shares of Schlumberger by 15.3% during the fourth quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock valued at $1,337,870,000 after buying an additional 2,637,527 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Schlumberger by 0.6% during the first quarter. First Eagle Investment Management LLC now owns 19,247,155 shares of the oil and gas company’s stock valued at $1,246,831,000 after buying an additional 118,890 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Schlumberger by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 14,131,891 shares of the oil and gas company’s stock valued at $950,287,000 after buying an additional 309,033 shares during the period. Institutional investors and hedge funds own 78.41% of the company’s stock.
SLB has been the subject of several recent analyst reports. Citigroup dropped their target price on Schlumberger from $79.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, June 25th. Credit Suisse Group set a $80.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Tuesday, June 12th. Susquehanna Bancshares set a $87.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Monday, April 23rd. Seaport Global Securities set a $76.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Monday, April 23rd. Finally, SunTrust Banks set a $82.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Monday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the stock. Schlumberger presently has an average rating of “Buy” and a consensus target price of $80.61.
Shares of Schlumberger opened at $67.06 on Thursday, according to MarketBeat.com. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $93.37 billion, a P/E ratio of 44.71, a PEG ratio of 5.90 and a beta of 1.06. Schlumberger Limited. has a 52-week low of $61.02 and a 52-week high of $80.35.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 20th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.79 billion. Schlumberger had a positive return on equity of 5.85% and a negative net margin of 4.01%. Schlumberger’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. analysts anticipate that Schlumberger Limited. will post 1.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Wednesday, June 6th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Tuesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is 133.33%.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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