Schlumberger Limited. (SLB) Shares Sold by Palisade Asset Management LLC
Palisade Asset Management LLC lowered its position in shares of Schlumberger Limited. (NYSE:SLB) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,401 shares of the oil and gas company’s stock after selling 1,154 shares during the quarter. Palisade Asset Management LLC’s holdings in Schlumberger were worth $2,096,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Capital Investment Advisors LLC grew its position in Schlumberger by 5.3% in the second quarter. Capital Investment Advisors LLC now owns 14,461 shares of the oil and gas company’s stock worth $969,000 after acquiring an additional 733 shares during the period. IHT Wealth Management LLC grew its position in Schlumberger by 11.0% in the first quarter. IHT Wealth Management LLC now owns 7,588 shares of the oil and gas company’s stock worth $482,000 after acquiring an additional 751 shares during the period. Portland Global Advisors LLC grew its position in Schlumberger by 2.8% in the second quarter. Portland Global Advisors LLC now owns 28,240 shares of the oil and gas company’s stock worth $1,893,000 after acquiring an additional 770 shares during the period. First Merchants Corp grew its position in Schlumberger by 1.4% in the second quarter. First Merchants Corp now owns 54,946 shares of the oil and gas company’s stock worth $3,683,000 after acquiring an additional 778 shares during the period. Finally, Guyasuta Investment Advisors Inc. grew its position in Schlumberger by 0.5% in the second quarter. Guyasuta Investment Advisors Inc. now owns 165,349 shares of the oil and gas company’s stock worth $11,083,000 after acquiring an additional 809 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on SLB. Tudor Pickering lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Credit Suisse Group increased their price objective on Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Citigroup lowered their price objective on Schlumberger from $79.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, June 25th. Finally, Jefferies Financial Group set a $80.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 23rd. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Schlumberger currently has a consensus rating of “Buy” and a consensus price target of $78.90.
SLB opened at $58.47 on Friday. Schlumberger Limited. has a 52 week low of $57.59 and a 52 week high of $80.35. The firm has a market cap of $80.87 billion, a PE ratio of 34.17, a PEG ratio of 5.58 and a beta of 0.93. 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 quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.57 billion. During the same period last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts predict that Schlumberger Limited. will post 1.75 earnings per share for the current fiscal year.
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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