Hanson & Doremus Investment Management boosted its holdings in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,850 shares of the oil and gas company's stock after purchasing an additional 2,378 shares during the quarter. Hanson & Doremus Investment Management's holdings in Schlumberger were worth $1,640,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Sugarloaf Wealth Management LLC raised its stake in shares of Schlumberger by 1,059.6% in the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 551 shares during the period. Acadian Asset Management LLC bought a new position in shares of Schlumberger in the first quarter worth about $25,000. JFS Wealth Advisors LLC grew its holdings in Schlumberger by 95.6% during the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 302 shares in the last quarter. WD Rutherford LLC bought a new position in Schlumberger during the 1st quarter worth about $26,000. Finally, Crewe Advisors LLC grew its holdings in Schlumberger by 768.4% during the 1st quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 584 shares in the last quarter. Hedge funds and other institutional investors own 78.71% of the company's stock.
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Schlumberger Stock Performance
Shares of Schlumberger stock opened at $34.57 on Tuesday. The firm has a market capitalization of $48.90 billion, a P/E ratio of 18.40, a P/E/G ratio of 0.45 and a beta of 1.81. Schlumberger Limited has a 52 week low of $27.65 and a 52 week high of $49.83. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The firm's 50 day moving average is $37.04 and its two-hundred day moving average is $39.32.
Schlumberger (NYSE:SLB – Get Rating) last announced its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.28 billion. Schlumberger had a net
margin of 10.56% and a return on equity of 15.06%. The firm's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. Research analysts forecast that Schlumberger Limited will post 2.02 EPS for the current fiscal year.
Schlumberger Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, September 6th. Schlumberger's dividend payout ratio (DPR) is currently 38.04%.
Analyst Ratings Changes
A number of research firms have recently weighed in on SLB. Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, July 13th. Cowen raised their price target on shares of Schlumberger from $47.00 to $49.00 and gave the company an "outperform" rating in a report on Monday, July 25th. StockNews.com cut shares of Schlumberger from a "buy" rating to a "hold" rating in a report on Friday, August 19th. The Goldman Sachs Group lowered their price target on shares of Schlumberger from $54.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, July 13th. Finally, Benchmark raised shares of Schlumberger from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $47.01.
Schlumberger Company Profile
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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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