Sequent Asset Management LLC Has $22.29 Million Stake in Schlumberger Limited. (SLB)
Sequent Asset Management LLC reduced its stake in Schlumberger Limited. (NYSE:SLB) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,512 shares of the oil and gas company’s stock after selling 1,300 shares during the period. Schlumberger Limited. comprises approximately 13.6% of Sequent Asset Management LLC’s investment portfolio, making the stock its 2nd largest position. Sequent Asset Management LLC’s holdings in Schlumberger Limited. were worth $22,288,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Tradewinds Capital Management LLC boosted its holdings in shares of Schlumberger Limited. by 29.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 307 shares in the last quarter. MCF Advisors LLC increased its holdings in Schlumberger Limited. by 130.3% in the 1st quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 915 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Schlumberger Limited. by 18.0% in the 1st quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock worth $145,000 after purchasing an additional 310 shares in the last quarter. Independence Advisors LLC bought a new position in Schlumberger Limited. in the second quarter valued at about $288,000. Finally, Baystate Wealth Management LLC raised its position in Schlumberger Limited. by 27.6% in the first quarter. Baystate Wealth Management LLC now owns 2,402 shares of the oil and gas company’s stock valued at $191,000 after purchasing an additional 520 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.
Schlumberger Limited. (NYSE:SLB) opened at 69.06 on Wednesday. The stock has a market capitalization of $95.62 billion, a price-to-earnings ratio of 543.78 and a beta of 1.05. The company has a 50-day moving average of $65.94 and a 200 day moving average of $69.56. Schlumberger Limited. has a 12 month low of $62.56 and a 12 month high of $87.84.
Schlumberger Limited. (NYSE:SLB) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. Schlumberger Limited. had a negative net margin of 1.08% and a negative return on equity of 0.74%. The firm had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited. will post $1.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.90%. Schlumberger Limited.’s dividend payout ratio is currently 1,538.58%.
In other Schlumberger Limited. news, Director Michael E. Marks bought 8,000 shares of Schlumberger Limited. stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $64.20 per share, for a total transaction of $513,600.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Helge Lund bought 2,800 shares of Schlumberger Limited. stock in a transaction dated Monday, July 24th. The stock was acquired at an average price of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.
Several research analysts have recently issued reports on SLB shares. UBS AG set a $90.00 price objective on Schlumberger Limited. and gave the company a “buy” rating in a research note on Friday, June 16th. Barclays PLC downgraded shares of Schlumberger Limited. from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $98.00 to $73.00 in a research report on Wednesday, June 21st. Morgan Stanley upped their price target on shares of Schlumberger Limited. from $90.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 21st. HSBC Holdings plc restated a “neutral” rating and issued a $80.00 price target (down from $86.00) on shares of Schlumberger Limited. in a research report on Wednesday, June 21st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $89.00 price target on shares of Schlumberger Limited. in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $85.80.
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Schlumberger Limited. Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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