Endurance Wealth Management Inc. lifted its holdings in Schlumberger N.V. (NYSE:SLB) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,201 shares of the oil and gas company’s stock after acquiring an additional 4,380 shares during the period. Schlumberger N.V. accounts for approximately 1.2% of Endurance Wealth Management Inc.’s holdings, making the stock its 28th biggest holding. Endurance Wealth Management Inc.’s holdings in Schlumberger N.V. were worth $6,966,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in SLB. American Century Companies Inc. increased its position in shares of Schlumberger N.V. by 30.8% during the first quarter. American Century Companies Inc. now owns 8,326,038 shares of the oil and gas company’s stock worth $650,264,000 after acquiring an additional 1,959,214 shares during the period. Swiss National Bank increased its position in shares of Schlumberger N.V. by 25.8% during the first quarter. Swiss National Bank now owns 5,241,535 shares of the oil and gas company’s stock worth $409,364,000 after acquiring an additional 1,075,000 shares during the period. Karp Capital Management Corp purchased a new position in shares of Schlumberger N.V. during the first quarter worth approximately $47,391,000. Bank of New York Mellon Corp increased its position in shares of Schlumberger N.V. by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock worth $2,082,673,000 after acquiring an additional 477,006 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Schlumberger N.V. by 61.3% during the first quarter. Retirement Systems of Alabama now owns 1,063,692 shares of the oil and gas company’s stock worth $83,074,000 after acquiring an additional 404,245 shares during the period. 78.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Schlumberger N.V. (SLB) traded down 0.68% during mid-day trading on Friday, reaching $67.24. 11,428,399 shares of the company were exchanged. The firm has a market capitalization of $93.10 billion, a price-to-earnings ratio of 529.45 and a beta of 1.03. Schlumberger N.V. has a 12 month low of $62.56 and a 12 month high of $87.84. The company’s 50-day moving average is $65.24 and its 200 day moving average is $70.65.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The business had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same quarter in the previous year, the business posted $0.23 EPS. Schlumberger N.V.’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Schlumberger N.V. will post $1.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio (DPR) is 1,538.58%.
In other news, Director Michael E. Marks purchased 8,000 shares of Schlumberger N.V. stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $64.20 per share, for a total transaction of $513,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Helge Lund purchased 2,800 shares of Schlumberger N.V. stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $66.78 per share, with a total value of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by insiders.
SLB has been the topic of several research reports. Bank of America Corporation lowered their price objective on shares of Schlumberger N.V. from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 30th. Morgan Stanley boosted their target price on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 21st. Sanford C. Bernstein upgraded shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $94.00 to $80.00 in a research report on Thursday, July 6th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating on shares of Schlumberger N.V. in a research report on Saturday, July 22nd. Finally, Zacks Investment Research upgraded shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Schlumberger N.V. has a consensus rating of “Buy” and an average target price of $85.80.
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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