Fosun International Ltd lifted its stake in Schlumberger Limited. (NYSE:SLB) by 15.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,000 shares of the oil and gas company’s stock after acquiring an additional 4,000 shares during the quarter. Fosun International Ltd’s holdings in Schlumberger were worth $398,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Janney Montgomery Scott LLC grew its stake in shares of Schlumberger by 80.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 270,272 shares of the oil and gas company’s stock valued at $10,865,000 after buying an additional 120,495 shares in the last quarter. NEXT Financial Group Inc grew its position in shares of Schlumberger by 49.7% in the 4th quarter. NEXT Financial Group Inc now owns 14,433 shares of the oil and gas company’s stock valued at $584,000 after acquiring an additional 4,792 shares during the period. Merriman Wealth Management LLC bought a new position in shares of Schlumberger in the 4th quarter valued at about $214,000. J.W. Cole Advisors Inc. acquired a new position in shares of Schlumberger during the 4th quarter worth about $225,000. Finally, Nwam LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at about $834,000. Institutional investors and hedge funds own 78.28% of the company’s stock.
In other Schlumberger news, CEO Peuch Olivier Le acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was acquired at an average cost of $13.77 per share, for a total transaction of $137,700.00. Following the transaction, the chief executive officer now directly owns 163,612 shares in the company, valued at $2,252,937.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick Schorn sold 34,468 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $17.83, for a total value of $614,564.44. Following the completion of the sale, the executive vice president now directly owns 80,000 shares in the company, valued at $1,426,400. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 17th. The oil and gas company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Schlumberger had a negative net margin of 55.19% and a positive return on equity of 7.88%. The business had revenue of $7.46 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. Schlumberger’s revenue was down 5.4% compared to the same quarter last year. Analysts anticipate that Schlumberger Limited. will post 0.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.50 annualized dividend and a dividend yield of 2.84%. Schlumberger’s dividend payout ratio is 136.05%.
A number of equities analysts have weighed in on SLB shares. Citigroup lowered their price target on Schlumberger from $17.00 to $11.50 and set a “neutral” rating on the stock in a research report on Friday, March 20th. ValuEngine raised Schlumberger from a “sell” rating to a “hold” rating in a report on Friday, May 1st. HSBC downgraded Schlumberger from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $17.10 in a report on Thursday, April 30th. Wells Fargo & Co downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective on the stock. in a report on Monday, April 13th. Finally, Susquehanna Bancshares cut their target price on shares of Schlumberger from $23.00 to $20.00 and set a “positive” rating for the company in a research note on Monday, April 20th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.87.
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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