Whitener Capital Management Inc. Invests $137,000 in Schlumberger Limited. (SLB)
Whitener Capital Management Inc. acquired a new position in shares of Schlumberger Limited. (NYSE:SLB) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,250 shares of the oil and gas company’s stock, valued at approximately $137,000.
Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Schlumberger by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after purchasing an additional 2,188,823 shares during the last quarter. American Century Companies Inc. boosted its position in Schlumberger by 20.1% during the third quarter. American Century Companies Inc. now owns 10,218,188 shares of the oil and gas company’s stock valued at $622,492,000 after purchasing an additional 1,707,050 shares during the last quarter. Fisher Asset Management LLC boosted its position in Schlumberger by 6.2% during the third quarter. Fisher Asset Management LLC now owns 6,576,688 shares of the oil and gas company’s stock valued at $400,652,000 after purchasing an additional 385,816 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Schlumberger by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 5,720,875 shares of the oil and gas company’s stock valued at $383,471,000 after purchasing an additional 164,182 shares during the last quarter. Finally, Swiss National Bank boosted its position in Schlumberger by 2.8% during the second quarter. Swiss National Bank now owns 4,950,935 shares of the oil and gas company’s stock valued at $331,861,000 after purchasing an additional 133,900 shares during the last quarter. Institutional investors and hedge funds own 78.68% of the company’s stock.
Several research analysts recently commented on the company. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. Zacks Investment Research cut Schlumberger from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Credit Suisse Group reduced their price target on Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. UBS Group reduced their price target on Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Finally, Citigroup reduced their price target on Schlumberger from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Schlumberger currently has an average rating of “Buy” and a consensus price target of $76.94.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts anticipate that Schlumberger Limited. will post 1.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, December 5th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.16%. Schlumberger’s payout ratio is 133.33%.
In other news, Director Michael E. Marks bought 8,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were bought at an average price of $60.31 per share, for a total transaction of $482,480.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Simon Ayat sold 60,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total value of $3,396,000.00. Following the transaction, the chief financial officer now owns 234,008 shares in the company, valued at approximately $13,244,852.80. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
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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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