Hohimer Wealth Management LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 103,468 shares of the oil and gas company’s stock, valued at approximately $4,882,000. Schlumberger comprises approximately 1.1% of Hohimer Wealth Management LLC’s holdings, making the stock its 14th biggest holding.
A number of other hedge funds also recently modified their holdings of SLB. Sapient Capital LLC acquired a new stake in Schlumberger in the 4th quarter worth about $249,000. National Bank of Canada FI increased its holdings in Schlumberger by 9.1% in the 4th quarter. National Bank of Canada FI now owns 344,745 shares of the oil and gas company’s stock valued at $17,971,000 after buying an additional 28,618 shares during the period. Private Advisor Group LLC increased its holdings in Schlumberger by 11.1% in the 4th quarter. Private Advisor Group LLC now owns 111,744 shares of the oil and gas company’s stock valued at $5,815,000 after buying an additional 11,205 shares during the period. Apollon Wealth Management LLC increased its holdings in Schlumberger by 50.1% in the 4th quarter. Apollon Wealth Management LLC now owns 29,814 shares of the oil and gas company’s stock valued at $1,552,000 after buying an additional 9,957 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Schlumberger by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,601,124 shares of the oil and gas company’s stock valued at $395,563,000 after buying an additional 146,815 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on SLB. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Citigroup decreased their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Bank of America decreased their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Barclays decreased their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.
Schlumberger Trading Down 0.6 %
NYSE SLB traded down $0.23 on Thursday, reaching $41.09. The company had a trading volume of 2,926,527 shares, compared to its average volume of 10,551,258. The firm has a market cap of $58.73 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 0.94 and a beta of 1.55. Schlumberger Limited has a fifty-two week low of $40.96 and a fifty-two week high of $62.12. The business has a 50 day moving average of $45.84 and a two-hundred day moving average of $48.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.
Schlumberger (NYSE:SLB – Get Free Report) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.
Schlumberger Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.68%. Schlumberger’s payout ratio is 36.54%.
Insider Activity at Schlumberger
In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders sold 185,696 shares of company stock worth $9,264,905 over the last three months. Company insiders own 0.26% of the company’s stock.
About Schlumberger
Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
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