Haverford Trust Co. cut its stake in Schlumberger Limited. (NYSE:SLB) by 10.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,429 shares of the oil and gas company’s stock after selling 1,594 shares during the quarter. Haverford Trust Co.’s holdings in Schlumberger were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.
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Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fulcrum Capital LLC acquired a new position in Schlumberger during the third quarter worth $7,301,000. Quad Cities Investment Group LLC acquired a new position in Schlumberger during the second quarter worth $32,000. Mizuho Securities Co. Ltd. acquired a new position in Schlumberger during the second quarter worth $32,000. Doyle Wealth Management acquired a new position in Schlumberger during the second quarter worth $33,000. Finally, Shamrock Asset Management LLC increased its position in Schlumberger by 49.6% during the second quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock worth $42,000 after buying an additional 352 shares during the last quarter. 76.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:SLB traded up $0.26 during midday trading on Friday, hitting $36.34. The company’s stock had a trading volume of 8,211,488 shares, compared to its average volume of 10,844,604. The stock has a market capitalization of $50.83 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 3.45 and a beta of 1.49. The stock’s 50 day simple moving average is $33.95 and its 200 day simple moving average is $36.68. Schlumberger Limited. has a fifty-two week low of $30.65 and a fifty-two week high of $51.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 1.29.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. As a group, analysts anticipate that Schlumberger Limited. will post 1.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Wednesday, December 4th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Tuesday, December 3rd. Schlumberger’s payout ratio is presently 123.46%.
In related news, VP Simon Farrant sold 5,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $33.55, for a total value of $167,750.00. Following the completion of the sale, the vice president now owns 20,316 shares in the company, valued at $681,601.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by company insiders.
Several equities analysts have commented on the stock. Bank of America set a $43.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada set a $40.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Monday, October 21st. TheStreet downgraded shares of Schlumberger from a “c” rating to a “d+” rating in a research report on Friday, October 18th. Cowen lowered their target price on shares of Schlumberger from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. lowered their price target on Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.82.
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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