Schlumberger Limited. (SLB) Shares Sold by Heartland Advisors Inc.
Heartland Advisors Inc. reduced its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,760 shares of the oil and gas company’s stock after selling 1,279 shares during the period. Schlumberger comprises 0.9% of Heartland Advisors Inc.’s portfolio, making the stock its 25th largest holding. Heartland Advisors Inc.’s holdings in Schlumberger were worth $14,058,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Zions Bancorporation purchased a new stake in Schlumberger during the third quarter valued at approximately $131,000. Truvestments Capital LLC purchased a new stake in Schlumberger during the third quarter valued at approximately $132,000. Whitener Capital Management Inc. purchased a new stake in Schlumberger during the third quarter valued at approximately $137,000. Squar Milner Financial Services LLC purchased a new stake in Schlumberger during the second quarter valued at approximately $157,000. Finally, Westbourne Investment Advisors Inc. purchased a new stake in Schlumberger during the third quarter valued at approximately $158,000. 77.49% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the stock. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group reduced their target price on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. Wolfe Research assumed coverage on shares of Schlumberger in a report on Wednesday, October 10th. They set a “market perform” rating for the company. Tudor Pickering cut shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Macquarie set a $71.00 target price on shares of Schlumberger and gave the company a “hold” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $76.94.
Shares of NYSE SLB opened at $47.64 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $64.95 billion, a PE ratio of 31.76, a PEG ratio of 4.63 and a beta of 1.03. Schlumberger Limited. has a 1 year low of $46.34 and a 1 year high of $80.35.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, research analysts predict that Schlumberger Limited. will post 1.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, December 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.
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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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