Lincoln Capital Corp grew its position in Schlumberger Limited. (NYSE:SLB) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,629 shares of the oil and gas company’s stock after purchasing an additional 2,965 shares during the period. Schlumberger makes up approximately 2.0% of Lincoln Capital Corp’s holdings, making the stock its 20th biggest position. Lincoln Capital Corp’s holdings in Schlumberger were worth $2,353,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mainstay Capital Management LLC ADV boosted its holdings in shares of Schlumberger by 3,884.1% in the second quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 6,603 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Schlumberger by 909.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 20,137 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Schlumberger by 57.6% in the first quarter. SRS Capital Advisors Inc. now owns 2,323 shares of the oil and gas company’s stock valued at $150,000 after acquiring an additional 849 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new position in shares of Schlumberger in the first quarter valued at approximately $154,000. Finally, Squar Milner Financial Services LLC bought a new position in shares of Schlumberger in the second quarter valued at approximately $157,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.
SLB stock opened at $63.11 on Wednesday. Schlumberger Limited. has a 12 month low of $59.25 and a 12 month high of $80.35. The company has a market cap of $84.32 billion, a P/E ratio of 42.07, a price-to-earnings-growth ratio of 5.68 and a beta of 0.93. The company has a quick ratio of 0.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 20th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the business earned $0.35 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. Equities analysts predict that Schlumberger Limited. will post 1.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Wednesday, September 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, September 4th. Schlumberger’s dividend payout ratio is presently 133.33%.
Several research analysts have recently issued reports on SLB shares. Stifel Nicolaus started coverage on shares of Schlumberger in a report on Monday, September 10th. They issued a “hold” rating and a $69.00 price objective for the company. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Morgan Stanley started coverage on shares of Schlumberger in a report on Tuesday, September 18th. They issued an “equal weight” rating and a $72.00 price objective for the company. Credit Suisse Group increased their price objective on shares of Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Jefferies Financial Group decreased their price objective on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $78.55.
In other news, Director Michael E. Marks purchased 8,000 shares of Schlumberger stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average price of $60.31 per share, for a total transaction of $482,480.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by corporate insiders.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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