Schlumberger Limited. (SLB) Shares Sold by Colony Group LLC
Colony Group LLC lessened its stake in Schlumberger Limited. (NYSE:SLB) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,797 shares of the oil and gas company’s stock after selling 1,799 shares during the quarter. Colony Group LLC’s holdings in Schlumberger were worth $6,622,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Adalta Capital Management LLC lifted its holdings in shares of Schlumberger by 1.9% during the 2nd quarter. Adalta Capital Management LLC now owns 59,962 shares of the oil and gas company’s stock valued at $4,049,000 after acquiring an additional 1,115 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Schlumberger by 107.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,041 shares of the oil and gas company’s stock worth $941,000 after buying an additional 7,286 shares during the period. Zacks Investment Management increased its stake in Schlumberger by 0.5% during the 2nd quarter. Zacks Investment Management now owns 418,538 shares of the oil and gas company’s stock worth $28,055,000 after buying an additional 2,174 shares during the period. SevenBridge Financial Group LLC increased its stake in Schlumberger by 15.7% during the 2nd quarter. SevenBridge Financial Group LLC now owns 18,303 shares of the oil and gas company’s stock worth $1,227,000 after buying an additional 2,481 shares during the period. Finally, Hilltop Holdings Inc. increased its stake in Schlumberger by 23.8% during the 2nd quarter. Hilltop Holdings Inc. now owns 6,974 shares of the oil and gas company’s stock worth $467,000 after buying an additional 1,339 shares during the period. Institutional investors own 78.45% of the company’s stock.
SLB has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on shares of Schlumberger in a research note on Monday. They set a “hold” rating and a $69.00 price target on the stock. Seaport Global Securities set a $72.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 23rd. Citigroup dropped their price target on shares of Schlumberger from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, June 13th. Wells Fargo & Co lifted their price target on shares of Schlumberger from $76.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, May 24th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $80.00 price target on shares of Schlumberger in a research note on Monday, July 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.57.
SLB opened at $61.02 on Friday. The stock has a market capitalization of $83.49 billion, a PE ratio of 40.68, a P/E/G ratio of 5.48 and a beta of 0.96. Schlumberger Limited. has a 1-year low of $59.25 and a 1-year high of $80.35. The company has a quick ratio of 0.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company 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 company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 EPS. equities analysts expect that Schlumberger Limited. will post 1.83 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Wednesday, September 5th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, September 4th. Schlumberger’s payout ratio is currently 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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