Bartlett & Co. LLC cut its stake in Schlumberger N.V. (NYSE:SLB) by 2.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 354,102 shares of the oil and gas company’s stock after selling 9,595 shares during the period. Bartlett & Co. LLC’s holdings in Schlumberger N.V. were worth $23,314,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Discovery Capital Management LLC CT purchased a new position in shares of Schlumberger N.V. during the fourth quarter valued at about $19,609,000. Glassman Wealth Services boosted its position in shares of Schlumberger N.V. by 1.2% in the fourth quarter. Glassman Wealth Services now owns 5,232 shares of the oil and gas company’s stock valued at $439,000 after buying an additional 61 shares during the period. Moloney Securities Asset Management LLC purchased a new position in shares of Schlumberger N.V. during the fourth quarter valued at about $315,000. Intellectus Partners LLC purchased a new position in shares of Schlumberger N.V. during the fourth quarter valued at about $583,000. Finally, First Republic Investment Management Inc. boosted its position in shares of Schlumberger N.V. by 2.2% in the fourth quarter. First Republic Investment Management Inc. now owns 701,778 shares of the oil and gas company’s stock valued at $58,913,000 after buying an additional 15,175 shares during the period. 79.14% of the stock is currently owned by institutional investors.
Shares of Schlumberger N.V. (NYSE:SLB) opened at 63.83 on Friday. The firm has a market capitalization of $88.37 billion, a PE ratio of 502.60 and a beta of 1.02. The company has a 50-day moving average price of $66.44 and a 200 day moving average price of $73.68. Schlumberger N.V. has a 12-month low of $63.74 and a 12-month high of $87.84.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $7.46 billion for the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 earnings per share. On average, equities analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be given a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 3.13%. Schlumberger N.V.’s dividend payout ratio is presently 1,538.58%.
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Several research analysts recently issued reports on the company. Deutsche Bank AG dropped their price objective on Schlumberger N.V. from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 18th. Zacks Investment Research raised Schlumberger N.V. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Jefferies Group LLC reaffirmed an “equal weight” rating on shares of Schlumberger N.V. in a research report on Friday, April 14th. HSBC Holdings plc began coverage on Schlumberger N.V. in a research report on Wednesday, April 19th. They set a “hold” rating and a $90.00 target price on the stock. Finally, Vetr raised Schlumberger N.V. from a “buy” rating to a “strong-buy” rating and set a $91.00 target price on the stock in a research report on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $86.40.
In related news, Director Peter L. S. Currie purchased 3,625 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average price of $69.02 per share, for a total transaction of $250,197.50. Following the acquisition, the director now directly owns 31,550 shares in the company, valued at $2,177,581. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tore I. Sandvold sold 5,000 shares of Schlumberger N.V. stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $69.82, for a total transaction of $349,100.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $349,100. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
Schlumberger N.V. Company Profile
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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