Dynamic Technology Lab Private Ltd purchased a new stake in shares of Schlumberger N.V. (NYSE:SLB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,130 shares of the oil and gas company’s stock, valued at approximately $400,000.
Several other institutional investors also recently made changes to their positions in the stock. Lebenthal Asset Management LLC raised its stake in shares of Schlumberger N.V. by 9.3% in the fourth quarter. Lebenthal Asset Management LLC now owns 72,681 shares of the oil and gas company’s stock valued at $6,101,000 after buying an additional 6,207 shares during the period. Sustainable Insight Capital Management LLC purchased a new stake in shares of Schlumberger N.V. during the fourth quarter valued at about $4,484,000. Independent Advisor Alliance purchased a new stake in shares of Schlumberger N.V. during the fourth quarter valued at about $238,000. Advantage Investment Management LLC bought a new position in Schlumberger N.V. during the fourth quarter valued at approximately $127,000. Finally, Comprehensive Portfolio Management LLC bought a new position in Schlumberger N.V. during the fourth quarter valued at approximately $1,139,000. Institutional investors own 79.65% of the company’s stock.
Schlumberger N.V. (SLB) opened at 63.32 on Friday. The firm has a 50-day moving average of $66.15 and a 200-day moving average of $72.93. The stock has a market cap of $87.67 billion, a PE ratio of 498.58 and a beta of 1.02. Schlumberger N.V. has a 12-month low of $62.93 and a 12-month high of $87.84.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.16%. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
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SLB has been the topic of a number of research analyst reports. UBS AG set a $90.00 target price on Schlumberger N.V. and gave the stock a “buy” rating in a report on Friday, June 16th. Evercore ISI set a $93.00 price target on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Saturday, April 22nd. Credit Suisse Group set a $78.00 price target on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $80.00 price objective (down from $92.00) on shares of Schlumberger N.V. in a research report on Monday, July 24th. Finally, Zacks Investment Research cut Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $86.21.
In other Schlumberger N.V. news, Director Tore I. Sandvold sold 5,000 shares of the business’s 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 sale, the director now owns 5,000 shares in the company, valued at $349,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Aaron Gatt Floridia sold 40,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $69.17, for a total transaction of $2,766,800.00. Following the transaction, the president now owns 96,175 shares of the company’s stock, valued at approximately $6,652,424.75. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 14,425 shares of company stock valued at $950,782. Insiders own 0.38% of the company’s stock.
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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