Gilman Hill Asset Management LLC bought a new position in Schlumberger Limited. (NYSE:SLB) in the fourth quarter, Holdings Channel reports. The institutional investor bought 107,369 shares of the oil and gas company’s stock, valued at approximately $3,874,000. Schlumberger accounts for approximately 1.6% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 21st largest position.
A number of other hedge funds have also modified their holdings of SLB. Capital International Investors grew its stake in Schlumberger by 62.5% in the third quarter. Capital International Investors now owns 33,296,194 shares of the oil and gas company’s stock valued at $2,028,404,000 after acquiring an additional 12,810,020 shares during the period. Bank of New York Mellon Corp grew its stake in Schlumberger by 8.0% in 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 acquiring an additional 2,188,823 shares during the period. American Century Companies Inc. grew its stake in Schlumberger by 20.1% in 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 acquiring an additional 1,707,050 shares during the period. Schroder Investment Management Group grew its stake in Schlumberger by 31.5% in the third quarter. Schroder Investment Management Group now owns 4,303,769 shares of the oil and gas company’s stock valued at $262,185,000 after acquiring an additional 1,030,579 shares during the period. Finally, Sound Shore Management Inc. CT acquired a new stake in Schlumberger in the third quarter valued at approximately $61,845,000. Institutional investors and hedge funds own 76.85% of the company’s stock.
Shares of SLB opened at $45.14 on Wednesday. The firm has a market capitalization of $61.69 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 2.35 and a beta of 1.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.17. Schlumberger Limited. has a 1 year low of $34.99 and a 1 year high of $75.43.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.10 billion. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. Research analysts anticipate that Schlumberger Limited. will post 1.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Wednesday, February 13th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $2.00 annualized dividend and a dividend yield of 4.43%. Schlumberger’s payout ratio is presently 123.46%.
In related news, EVP Peuch Olivier Le sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total transaction of $660,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick Schorn acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 20th. The shares were bought at an average price of $37.55 per share, for a total transaction of $375,500.00. Following the completion of the purchase, the executive vice president now owns 35,000 shares in the company, valued at approximately $1,314,250. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
A number of brokerages have commented on SLB. Zacks Investment Research raised Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Royal Bank of Canada set a $58.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Friday, January 18th. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Wolfe Research began coverage on Schlumberger in a research note on Wednesday, October 10th. They issued a “market perform” rating for the company. Finally, Credit Suisse Group set a $44.00 price objective on Schlumberger and gave the company a “hold” rating in a research note on Friday, January 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $66.65.
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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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