Schlumberger N.V. (NYSE:SLB) released its quarterly earnings results on Friday. The oil and gas company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42, Bloomberg Earnings reports. The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS.
Schlumberger N.V. (NYSE SLB) traded down 2.09% during trading on Friday, hitting $63.15. The stock had a trading volume of 19,259,629 shares. The stock’s 50-day moving average price is $67.31 and its 200-day moving average price is $68.66. The company has a market capitalization of $87.43 billion, a P/E ratio of 497.24 and a beta of 1.05. Schlumberger N.V. has a 1-year low of $61.40 and a 1-year high of $87.84.
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In other news, Director Helge Lund acquired 2,800 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $66.78 per share, for a total transaction of $186,984.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Marks acquired 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tradewinds Capital Management LLC raised its holdings in Schlumberger N.V. by 29.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after acquiring an additional 307 shares during the last quarter. Aviance Capital Management LLC purchased a new position in Schlumberger N.V. in the 2nd quarter worth approximately $100,000. MCF Advisors LLC raised its holdings in Schlumberger N.V. by 130.3% in the 1st quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 915 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Schlumberger N.V. in the 2nd quarter worth approximately $107,000. Finally, Proficio Capital Partners LLC raised its holdings in Schlumberger N.V. by 18.0% in the 1st quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock worth $145,000 after acquiring an additional 310 shares during the last quarter. Institutional investors own 78.85% of the company’s stock.
A number of research analysts have recently issued reports on SLB shares. Scotiabank set a $90.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, July 7th. Jefferies Group LLC reissued a “buy” rating and issued a $92.00 price objective on shares of Schlumberger N.V. in a research note on Friday, June 30th. BMO Capital Markets reissued a “buy” rating and issued a $74.00 price objective (down from $89.00) on shares of Schlumberger N.V. in a research note on Thursday, July 13th. Credit Suisse Group set a $78.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Monday, July 24th. Finally, Instinet reissued a “buy” rating and issued a $78.00 price objective (down from $85.00) on shares of Schlumberger N.V. in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $81.92.
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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