Keating Investment Counselors Inc. lowered its stake in Schlumberger Limited. (NYSE:SLB) by 15.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,164 shares of the oil and gas company’s stock after selling 29,855 shares during the quarter. Schlumberger makes up approximately 1.3% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 26th largest position. Keating Investment Counselors Inc.’s holdings in Schlumberger were worth $2,461,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Wedge Capital Management L L P NC lifted its holdings in shares of Schlumberger by 57.1% in the third quarter. Wedge Capital Management L L P NC now owns 100,153 shares of the oil and gas company’s stock worth $1,558,000 after acquiring an additional 36,418 shares during the last quarter. Courier Capital LLC increased its position in Schlumberger by 9.3% during the 2nd quarter. Courier Capital LLC now owns 20,683 shares of the oil and gas company’s stock valued at $372,000 after purchasing an additional 1,752 shares during the period. Athanor Capital LP acquired a new stake in shares of Schlumberger during the 2nd quarter worth approximately $966,000. Guggenheim Capital LLC grew its position in shares of Schlumberger by 121.9% during the 1st quarter. Guggenheim Capital LLC now owns 322,153 shares of the oil and gas company’s stock worth $4,346,000 after buying an additional 176,970 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Schlumberger by 3.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 246,923 shares of the oil and gas company’s stock worth $4,540,000 after buying an additional 8,545 shares during the period. 72.50% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Peuch Olivier Le bought 25,000 shares of Schlumberger stock in a transaction on Monday, September 14th. The stock was acquired at an average price of $17.95 per share, with a total value of $448,750.00. Following the acquisition, the chief executive officer now directly owns 191,770 shares of the company’s stock, valued at $3,442,271.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark G. Papa bought 15,000 shares of Schlumberger stock in a transaction on Wednesday, August 5th. The shares were bought at an average cost of $19.46 per share, with a total value of $291,900.00. Following the acquisition, the director now directly owns 50,131 shares in the company, valued at $975,549.26. The disclosure for this purchase can be found here. 0.58% of the stock is owned by insiders.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 16th. The oil and gas company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. Schlumberger had a positive return on equity of 7.34% and a negative net margin of 40.15%. The company had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was down 38.4% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited. will post 0.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Wednesday, December 2nd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, December 1st. Schlumberger’s payout ratio is presently 34.01%.
A number of brokerages recently issued reports on SLB. Morgan Stanley increased their target price on Schlumberger from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Citigroup upgraded Schlumberger from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $26.00 in a report on Monday, July 27th. Wells Fargo & Company cut their target price on Schlumberger from $28.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. BMO Capital Markets began coverage on Schlumberger in a report on Thursday, October 1st. They issued an “outperform” rating and a $21.00 target price on the stock. Finally, Bank of America cut their target price on Schlumberger from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.03.
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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