Dana Investment Advisors Inc. raised its position in shares of Schlumberger Limited (NYSE:SLB) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,443 shares of the oil and gas company’s stock after acquiring an additional 1,315 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Schlumberger were worth $750,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Corsicana & Co. bought a new position in shares of Schlumberger during the 2nd quarter worth about $26,000. Sierra Capital LLC purchased a new stake in Schlumberger in the 1st quarter valued at about $26,000. Eagle Bay Advisors LLC purchased a new stake in Schlumberger in the 2nd quarter valued at about $27,000. Cowen Prime Advisors LLC purchased a new stake in Schlumberger in the 2nd quarter valued at about $27,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Schlumberger in the 1st quarter valued at about $28,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on SLB shares. TheStreet upgraded shares of Schlumberger from a “d+” rating to a “c-” rating in a research note on Thursday, June 10th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price target on shares of Schlumberger in a research note on Thursday, September 9th. Cowen restated an “outperform” rating and set a $29.03 price target (down previously from $32.00) on shares of Schlumberger in a research note on Monday, July 26th. Morgan Stanley raised their price target on shares of Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, July 9th. Finally, HSBC upgraded shares of Schlumberger from a “reduce” rating to a “hold” rating and raised their price target for the stock from $18.10 to $25.00 in a research note on Wednesday, August 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Buy” and a consensus target price of $29.84.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Schlumberger had a net margin of 4.72% and a return on equity of 9.96%. The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 1.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 7th. Stockholders of record on Wednesday, September 1st will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, August 31st. Schlumberger’s payout ratio is 73.53%.
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.
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