Cambridge Investment Research Advisors Inc. Has $2.78 Million Holdings in Schlumberger Limited. (SLB)
Cambridge Investment Research Advisors Inc. raised its holdings in Schlumberger Limited. (NYSE:SLB) by 5.3% during the second quarter, HoldingsChannel reports. The firm owned 41,455 shares of the oil and gas company’s stock after purchasing an additional 2,071 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Schlumberger were worth $2,779,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Barings LLC boosted its stake in shares of Schlumberger by 365.6% during the 2nd quarter. Barings LLC now owns 325,428 shares of the oil and gas company’s stock worth $21,813,000 after acquiring an additional 255,539 shares in the last quarter. Intrust Bank NA boosted its stake in shares of Schlumberger by 10.2% during the 2nd quarter. Intrust Bank NA now owns 18,356 shares of the oil and gas company’s stock worth $1,231,000 after acquiring an additional 1,696 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Schlumberger during the 2nd quarter worth approximately $13,121,000. Lake Street Advisors Group LLC purchased a new stake in shares of Schlumberger during the 4th quarter worth approximately $848,000. Finally, Financial Partners Capital Management LLC boosted its stake in shares of Schlumberger by 3.9% during the 1st quarter. Financial Partners Capital Management LLC now owns 60,575 shares of the oil and gas company’s stock worth $3,924,000 after acquiring an additional 2,281 shares in the last quarter. 78.36% of the stock is currently owned by institutional investors.
Shares of Schlumberger stock opened at $59.70 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.85. Schlumberger Limited. has a 1 year low of $59.25 and a 1 year high of $80.35. The company has a market cap of $84.46 billion, a P/E ratio of 39.80, a P/E/G ratio of 5.54 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Wednesday, September 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.00 annualized dividend and a yield of 3.35%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.
SLB has been the topic of several research analyst reports. Wells Fargo & Co boosted their price target on Schlumberger from $76.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, May 24th. Credit Suisse Group boosted their price target on Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Citigroup decreased their price target on Schlumberger from $78.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, July 23rd. ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Jefferies Financial Group set a $80.00 price target on Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the stock. Schlumberger has an average rating of “Buy” and an average price target of $79.90.
In other Schlumberger news, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was bought at an average cost of $60.31 per share, for a total transaction of $482,480.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.
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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