Security National Bank of SO Dak grew its position in shares of Schlumberger Limited. (NYSE:SLB) by 22.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,370 shares of the oil and gas company’s stock after acquiring an additional 3,495 shares during the quarter. Security National Bank of SO Dak’s holdings in Schlumberger were worth $770,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SLB. PVG Asset Management Corp purchased a new stake in shares of Schlumberger in the second quarter worth about $215,000. Q Global Advisors LLC lifted its holdings in Schlumberger by 153.7% during the 2nd quarter. Q Global Advisors LLC now owns 457,484 shares of the oil and gas company’s stock worth $18,180,000 after buying an additional 277,160 shares during the last quarter. Cito Capital Group LLC lifted its holdings in Schlumberger by 56.6% during the 2nd quarter. Cito Capital Group LLC now owns 16,600 shares of the oil and gas company’s stock worth $664,000 after buying an additional 6,000 shares during the last quarter. Capital Bank & Trust Co lifted its holdings in Schlumberger by 6.3% during the 2nd quarter. Capital Bank & Trust Co now owns 2,582,765 shares of the oil and gas company’s stock worth $102,515,000 after buying an additional 152,752 shares during the last quarter. Finally, Woodmont Investment Counsel LLC lifted its holdings in Schlumberger by 30.1% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 14,483 shares of the oil and gas company’s stock worth $576,000 after buying an additional 3,350 shares during the last quarter. Institutional investors own 76.67% of the company’s stock.
In related news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the sale, the executive vice president now owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The firm had revenue of $8.27 billion for the quarter, compared to analysts’ expectations of $8.11 billion. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Research analysts expect that Schlumberger Limited. will post 1.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.35%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is currently 123.46%.
SLB has been the topic of a number of research analyst reports. Barclays raised Schlumberger from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $45.00 to $50.00 in a report on Monday. Morgan Stanley raised Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a report on Tuesday, September 10th. Wells Fargo & Co dropped their price target on Schlumberger from $48.00 to $44.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, June 7th. Finally, Bank of America dropped their price target on Schlumberger from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $51.11.
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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