Cambridge Advisors Inc. cut its stake in Schlumberger N.V. (NYSE:SLB) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,479 shares of the oil and gas company’s stock after selling 747 shares during the period. Cambridge Advisors Inc.’s holdings in Schlumberger N.V. were worth $1,217,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. First United Bank Trust raised its holdings in Schlumberger N.V. by 9.8% during the first quarter. First United Bank Trust now owns 13,135 shares of the oil and gas company’s stock worth $1,026,000 after purchasing an additional 1,175 shares in the last quarter. Jolley Asset Management LLC grew its position in Schlumberger N.V. by 10.0% during the first quarter. Jolley Asset Management LLC now owns 44,249 shares of the oil and gas company’s stock worth $3,456,000 after buying an additional 4,037 shares during the period. Hartford Financial Management Inc. grew its position in Schlumberger N.V. by 23.0% during the first quarter. Hartford Financial Management Inc. now owns 3,631 shares of the oil and gas company’s stock worth $283,000 after buying an additional 680 shares during the period. Bollard Group LLC grew its position in Schlumberger N.V. by 10.3% during the first quarter. Bollard Group LLC now owns 16,134 shares of the oil and gas company’s stock worth $1,260,000 after buying an additional 1,504 shares during the period. Finally, SOL Capital Management CO grew its position in Schlumberger N.V. by 8.3% during the second quarter. SOL Capital Management CO now owns 5,226 shares of the oil and gas company’s stock worth $344,000 after buying an additional 400 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.
Schlumberger N.V. (SLB) traded down 0.923% during trading on Friday, reaching $67.075. 5,874,237 shares of the company traded hands. The company’s 50-day moving average is $65.25 and its 200 day moving average is $70.75. Schlumberger N.V. has a 12 month low of $62.56 and a 12 month high of $87.84. The company has a market cap of $92.87 billion, a PE ratio of 528.150 and a beta of 1.03.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $7.46 billion during the quarter, compared to the consensus estimate of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. On average, analysts anticipate that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.95%. Schlumberger N.V.’s payout ratio is 1,538.58%.
A number of analysts recently issued reports on the stock. Bank of America Corporation decreased their target price on shares of Schlumberger N.V. from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 30th. BidaskClub upgraded shares of Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. UBS AG set a $90.00 price target on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research note on Friday, June 16th. Zacks Investment Research raised shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, HSBC Holdings plc reaffirmed a “neutral” rating and set a $80.00 price target (down previously from $86.00) on shares of Schlumberger N.V. in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Schlumberger N.V. currently has a consensus rating of “Buy” and an average target price of $85.80.
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In related news, Director Michael E. Marks acquired 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $64.20 per share, with a total value of $513,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Helge Lund acquired 2,800 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average cost of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently 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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