Penn Davis Mcfarland Inc. Sells 5,030 Shares of Schlumberger Limited. (SLB)
Penn Davis Mcfarland Inc. trimmed its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,666 shares of the oil and gas company’s stock after selling 5,030 shares during the period. Schlumberger comprises approximately 3.7% of Penn Davis Mcfarland Inc.’s holdings, making the stock its 12th biggest holding. Penn Davis Mcfarland Inc.’s holdings in Schlumberger were worth $11,975,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SLB. Aviance Capital Management LLC acquired a new stake in Schlumberger during the second quarter worth approximately $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in Schlumberger during the second quarter worth approximately $107,000. Tradewinds Capital Management LLC boosted its position in Schlumberger by 22.3% during the second quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 298 shares during the last quarter. Jacobi Capital Management LLC boosted its position in Schlumberger by 95.8% during the second quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Atlantic Trust LLC acquired a new stake in Schlumberger during the second quarter worth approximately $137,000. 79.32% of the stock is owned by institutional investors and hedge funds.
Schlumberger Limited. (NYSE SLB) opened at $65.28 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a market cap of $90,430.00, a price-to-earnings ratio of 49.30, a P/E/G ratio of 1.95 and a beta of 1.01. Schlumberger Limited. has a 1-year low of $61.02 and a 1-year high of $87.84.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 3.06%. Schlumberger’s payout ratio is 512.82%.
A number of analysts recently issued reports on the stock. Barclays set a $70.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a research report on Wednesday, October 25th. SunTrust Banks restated a “hold” rating on shares of Schlumberger in a research report on Tuesday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price (down previously from $86.00) on shares of Schlumberger in a research report on Monday, October 16th. Citigroup lifted their price target on shares of Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, J P Morgan Chase & Co decreased their price target on shares of Schlumberger from $79.00 to $76.00 and set an “overweight” rating on the stock in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Schlumberger has an average rating of “Buy” and a consensus price target of $79.31.
In related news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the transaction, the director now owns 1,500 shares in the company, valued at approximately $93,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.
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Schlumberger 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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