Earnest Partners LLC Sells 9,493 Shares of Schlumberger Limited. (SLB)
Earnest Partners LLC cut its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 6.8% in the 3rd quarter, Holdings Channel reports. The firm owned 130,491 shares of the oil and gas company’s stock after selling 9,493 shares during the period. Earnest Partners LLC’s holdings in Schlumberger were worth $9,103,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Aviance Capital Management LLC purchased a new stake in shares of Schlumberger in the 2nd quarter valued at approximately $100,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Schlumberger in the 2nd quarter valued at approximately $107,000. Tradewinds Capital Management LLC lifted its position in shares of Schlumberger by 22.3% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 298 shares in the last quarter. Jacobi Capital Management LLC lifted its position in shares of Schlumberger by 95.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Atlantic Trust LLC purchased a new stake in shares of Schlumberger in the 2nd quarter valued at approximately $137,000. 79.18% of the stock is owned by institutional investors and hedge funds.
In related news, insider Howard Guild sold 25,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $78.26, for a total value of $1,956,500.00. Following the transaction, the insider now directly owns 22,410 shares in the company, valued at approximately $1,753,806.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Simon Ayat sold 75,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the completion of the transaction, the chief financial officer now owns 138,827 shares in the company, valued at $10,947,897.22. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The business had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.12 billion. During the same period last year, the business posted $0.27 EPS. Schlumberger’s revenue was up 15.1% compared to the same quarter last year. equities analysts anticipate that Schlumberger Limited. will post 2.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Wednesday, February 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a yield of 3.04%. Schlumberger’s payout ratio is presently -183.49%.
Several research analysts have weighed in on the stock. Cowen set a $85.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Wednesday. Loop Capital reiterated a “buy” rating and issued a $82.00 price objective (up previously from $77.00) on shares of Schlumberger in a research note on Monday, January 22nd. Zacks Investment Research lowered shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Monday. SunTrust Banks reiterated a “hold” rating on shares of Schlumberger in a research note on Tuesday, October 31st. Finally, Barclays set a $70.00 price objective on shares of Schlumberger and gave the company a “hold” rating in a research note on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.29.
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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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