Schlumberger Limited. (SLB) Shares Sold by First Republic Investment Management Inc.
First Republic Investment Management Inc. lessened its stake in shares of Schlumberger Limited. (NYSE:SLB) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 685,139 shares of the oil and gas company’s stock after selling 35,180 shares during the period. First Republic Investment Management Inc.’s holdings in Schlumberger were worth $41,739,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in SLB. Mainstay Capital Management LLC ADV lifted its stake in Schlumberger by 3,884.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 6,603 shares during the period. Zions Bancorporation acquired a new stake in Schlumberger during the 3rd quarter valued at approximately $131,000. Truvestments Capital LLC acquired a new stake in Schlumberger during the 3rd quarter valued at approximately $132,000. Whitener Capital Management Inc. acquired a new stake in Schlumberger during the 3rd quarter valued at approximately $137,000. Finally, Moneta Group Investment Advisors LLC lifted its stake in Schlumberger by 909.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 20,137 shares during the period. 77.74% of the stock is currently owned by institutional investors.
SLB opened at $44.12 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.38. Schlumberger Limited. has a 1 year low of $44.02 and a 1 year high of $80.35. The firm has a market capitalization of $62.45 billion, a P/E ratio of 29.41, a PEG ratio of 4.57 and a beta of 1.04.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Tuesday, December 4th. Schlumberger’s dividend payout ratio is currently 133.33%.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Macquarie set a $71.00 price objective on shares of Schlumberger and gave the company a “hold” rating in a research note on Tuesday, October 2nd. Bank of America restated a “buy” rating and set a $52.00 price objective (down from $69.00) on shares of Schlumberger in a research note on Monday. Finally, Wolfe Research assumed coverage on shares of Schlumberger in a research note on Wednesday, October 10th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $75.67.
In related news, CFO Simon Ayat sold 60,000 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the transaction, the chief financial officer now directly owns 234,008 shares in the company, valued at approximately $13,244,852.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.
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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