Cambridge Trust Co. reduced its stake in shares of Schlumberger Limited. (NYSE:SLB) by 52.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,569 shares of the oil and gas company’s stock after selling 121,913 shares during the period. Cambridge Trust Co.’s holdings in Schlumberger were worth $7,713,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Comprehensive Portfolio Management LLC acquired a new position in Schlumberger during the 2nd quarter worth $885,000. Bank of Montreal Can lifted its position in Schlumberger by 41.6% during the 2nd quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock worth $105,414,000 after acquiring an additional 470,615 shares during the last quarter. WFG Advisors LP lifted its position in Schlumberger by 51.5% during the 2nd quarter. WFG Advisors LP now owns 11,332 shares of the oil and gas company’s stock worth $746,000 after acquiring an additional 3,853 shares during the last quarter. Denver Investment Advisors LLC lifted its position in Schlumberger by 5.8% during the 2nd quarter. Denver Investment Advisors LLC now owns 160,191 shares of the oil and gas company’s stock worth $10,547,000 after acquiring an additional 8,817 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Schlumberger during the 2nd quarter worth $14,156,000. Institutional investors and hedge funds own 79.35% of the company’s stock.
In other news, Director Tore I. Sandvold sold 3,500 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the sale, the director now directly owns 1,500 shares of the company’s stock, valued at $93,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The business had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. sell-side analysts predict that Schlumberger Limited. will post 1.46 EPS for the current fiscal year.
A number of research analysts have weighed in on SLB shares. Jefferies Group reissued a “buy” rating and set a $80.00 target price on shares of Schlumberger in a research report on Friday, September 29th. Citigroup boosted their target price on shares of Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Cowen set a $80.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Friday, October 6th. Royal Bank of Canada set a $86.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 7th. Finally, Deutsche Bank started coverage on shares of Schlumberger in a research report on Tuesday, October 10th. They set a “buy” rating and a $78.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $79.56.
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Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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