Alps Advisors Inc. Sells 61,064 Shares of Schlumberger Limited. (NYSE:SLB)
Alps Advisors Inc. decreased its holdings in Schlumberger Limited. (NYSE:SLB) by 6.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 948,285 shares of the oil and gas company’s stock after selling 61,064 shares during the quarter. Alps Advisors Inc.’s holdings in Schlumberger were worth $32,403,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in SLB. Nuveen Asset Management LLC raised its stake in Schlumberger by 14,172.7% in the second quarter. Nuveen Asset Management LLC now owns 7,796,324 shares of the oil and gas company’s stock valued at $309,825,000 after buying an additional 7,741,700 shares during the period. Invesco Ltd. raised its stake in Schlumberger by 57.3% in the second quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock valued at $663,804,000 after buying an additional 6,087,455 shares during the period. Mackenzie Financial Corp raised its stake in Schlumberger by 14,241.7% in the second quarter. Mackenzie Financial Corp now owns 2,921,974 shares of the oil and gas company’s stock valued at $116,119,000 after buying an additional 2,901,600 shares during the period. BlackRock Inc. raised its stake in Schlumberger by 2.7% in the second quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock valued at $3,571,386,000 after buying an additional 2,340,320 shares during the period. Finally, Vanguard Group Inc. raised its stake in Schlumberger by 1.5% in the second quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock valued at $4,477,227,000 after buying an additional 1,715,548 shares during the period. Hedge funds and other institutional investors own 76.52% of the company’s stock.
In other news, VP Simon Farrant sold 5,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $33.55, for a total transaction of $167,750.00. Following the transaction, the vice president now owns 20,316 shares in the company, valued at $681,601.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by company insiders.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. Analysts forecast that Schlumberger Limited. will post 1.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.50%. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.
SLB has been the topic of several research analyst reports. Royal Bank of Canada set a $40.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, October 21st. ValuEngine upgraded Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley set a $50.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, October 21st. TheStreet lowered Schlumberger from a “c” rating to a “d+” rating in a research note on Friday, October 18th. Finally, Citigroup dropped their price objective on Schlumberger from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $44.82.
Schlumberger Company Profile
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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