South State Corp lessened its holdings in Schlumberger Limited. (NYSE:SLB) by 51.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,894 shares of the oil and gas company’s stock after selling 58,787 shares during the period. South State Corp’s holdings in Schlumberger were worth $1,981,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of SLB. Soros Fund Management LLC acquired a new stake in Schlumberger during the third quarter valued at $3,046,000. Greylin Investment Mangement Inc. acquired a new stake in Schlumberger during the third quarter valued at $7,963,000. Fosun International Ltd acquired a new stake in Schlumberger during the third quarter valued at $1,847,000. Kentucky Retirement Systems acquired a new stake in Schlumberger during the third quarter valued at $9,798,000. Finally, Sound Shore Management Inc. CT acquired a new stake in Schlumberger during the third quarter valued at $61,845,000. 78.31% of the stock is owned by institutional investors and hedge funds.
Schlumberger stock opened at $42.39 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.17. The stock has a market capitalization of $58.75 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.30 and a beta of 1.34. Schlumberger Limited. has a 52 week low of $34.99 and a 52 week high of $75.43.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 18th. The oil and gas company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.10 billion. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. Analysts anticipate that Schlumberger Limited. will post 1.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Wednesday, February 13th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, February 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.72%. Schlumberger’s payout ratio is presently 123.46%.
SLB has been the subject of a number of analyst reports. Jefferies Financial Group cut Schlumberger from a “buy” rating to a “hold” rating and reduced their price target for the stock from $50.00 to $45.00 in a research report on Friday. HSBC raised Schlumberger from a “hold” rating to a “buy” rating in a research report on Sunday, December 2nd. Credit Suisse Group set a $44.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Friday, January 18th. Barclays set a $58.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Monday, December 10th. Finally, Goldman Sachs Group initiated coverage on Schlumberger in a research report on Sunday, March 10th. They issued a “buy” rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Schlumberger currently has a consensus rating of “Hold” and an average target price of $65.50.
In other news, EVP Peuch Olivier Le sold 15,000 shares of Schlumberger stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total value of $660,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Schorn acquired 10,000 shares of the company’s stock in a transaction dated Thursday, December 20th. The stock was acquired at an average price of $37.55 per share, for a total transaction of $375,500.00. Following the completion of the purchase, the executive vice president now directly owns 35,000 shares of the company’s stock, valued at approximately $1,314,250. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
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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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