Toronto Dominion Bank boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 100.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,581,090 shares of the oil and gas company’s stock after purchasing an additional 793,008 shares during the quarter. Toronto Dominion Bank owned about 0.11% of Schlumberger worth $52,072,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SLB. Victory Capital Management Inc. increased its holdings in shares of Schlumberger by 8.8% in the 1st quarter. Victory Capital Management Inc. now owns 520,367 shares of the oil and gas company’s stock worth $14,148,000 after purchasing an additional 42,278 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Schlumberger by 4.0% in the first quarter. Commonwealth Equity Services LLC now owns 179,073 shares of the oil and gas company’s stock worth $4,869,000 after acquiring an additional 6,818 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Schlumberger by 14.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 647,715 shares of the oil and gas company’s stock valued at $17,611,000 after purchasing an additional 80,702 shares during the last quarter. Associated Banc Corp lifted its position in Schlumberger by 91.1% during the first quarter. Associated Banc Corp now owns 107,684 shares of the oil and gas company’s stock valued at $1,453,000 after purchasing an additional 51,326 shares during the period. Finally, Middleton & Co Inc MA purchased a new stake in Schlumberger in the first quarter worth approximately $287,000. Institutional investors and hedge funds own 76.26% of the company’s stock.
Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. HSBC raised shares of Schlumberger from a “reduce” rating to a “hold” rating and upped their price target for the company from $18.10 to $25.00 in a research report on Wednesday, August 4th. Cowen restated an “outperform” rating and set a $29.03 target price (down from $32.00) on shares of Schlumberger in a research report on Monday, July 26th. TheStreet upgraded shares of Schlumberger from a “d+” rating to a “c-” rating in a research report on Thursday, June 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price objective on shares of Schlumberger in a research report on Thursday, September 9th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Buy” and a consensus target price of $29.84.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.52 billion. Schlumberger had a net margin of 4.72% and a return on equity of 9.96%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. On average, research analysts predict that Schlumberger Limited will post 1.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Wednesday, September 1st will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, August 31st. This represents a $0.50 annualized dividend and a yield of 1.81%. Schlumberger’s payout ratio is 73.53%.
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.
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