Gamco Investors INC. ET AL reduced its holdings in Schlumberger Limited. (NYSE:SLB) by 11.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 32,036 shares of the oil and gas company’s stock after selling 4,013 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Schlumberger were worth $2,147,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Delek Group Ltd. acquired a new stake in Schlumberger in the 4th quarter valued at $100,000. SRS Capital Advisors Inc. increased its stake in Schlumberger by 57.6% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,323 shares of the oil and gas company’s stock valued at $150,000 after buying an additional 849 shares during the last quarter. Squar Milner Financial Services LLC acquired a new stake in Schlumberger in the 2nd quarter valued at $157,000. McKinley Carter Wealth Services Inc. acquired a new stake in Schlumberger in the 1st quarter valued at $154,000. Finally, FNY Investment Advisers LLC acquired a new stake in Schlumberger in the 2nd quarter valued at $182,000. Hedge funds and other institutional investors own 78.36% of the company’s stock.

NYSE SLB opened at $60.21 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $84.46 billion, a price-to-earnings ratio of 40.14, a price-to-earnings-growth ratio of 5.54 and a beta of 0.96. Schlumberger Limited. has a 12-month low of $59.80 and a 12-month high of $80.35.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 20th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.35 billion. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. research analysts forecast that Schlumberger Limited. will post 1.84 EPS for the current fiscal year.

The firm also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, September 4th. Schlumberger’s dividend payout ratio is currently 133.33%.

Several research analysts have recently weighed in on SLB shares. Jefferies Financial Group set a $80.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. Seaport Global Securities set a $72.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. Citigroup lowered their price objective on shares of Schlumberger from $78.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, July 23rd. Credit Suisse Group boosted their price objective on shares of Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $80.00 price objective on shares of Schlumberger in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $79.90.

Schlumberger 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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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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