TD Asset Management Inc. raised its position in shares of Schlumberger N.V. (NYSE:SLB) by 22.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,670,066 shares of the oil and gas company’s stock after purchasing an additional 306,625 shares during the quarter. TD Asset Management Inc. owned 0.12% of Schlumberger N.V. worth $130,432,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its holdings in shares of Schlumberger N.V. by 71.4% in the first quarter. First Eagle Investment Management LLC now owns 7,857,819 shares of the oil and gas company’s stock worth $613,696,000 after buying an additional 3,272,127 shares during the last quarter. Endurance Wealth Management Inc. raised its stake in Schlumberger N.V. by 5.2% during the 1st quarter. Endurance Wealth Management Inc. now owns 89,201 shares of the oil and gas company’s stock worth $6,966,000 after acquiring an additional 4,380 shares during the period. Karp Capital Management Corp bought a new stake in Schlumberger N.V. during the 1st quarter worth approximately $47,391,000. Investment Partners Ltd. OH ADV raised its stake in Schlumberger N.V. by 13.2% during the 1st quarter. Investment Partners Ltd. OH ADV now owns 5,181 shares of the oil and gas company’s stock worth $405,000 after acquiring an additional 605 shares during the period. Finally, Haverford Trust Co. raised its stake in Schlumberger N.V. by 2.1% during the 1st quarter. Haverford Trust Co. now owns 806,695 shares of the oil and gas company’s stock worth $63,003,000 after acquiring an additional 16,304 shares during the period. 78.99% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on SLB shares. Bank of America Corporation reduced their price target 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 report on Friday, June 16th. 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. Finally, HSBC Holdings plc reaffirmed a “neutral” rating and set a $80.00 price objective (down from $86.00) on shares of Schlumberger N.V. in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $85.80.
Shares of Schlumberger N.V. (NYSE SLB) traded down 0.68% during midday trading on Friday, reaching $67.24. The company had a trading volume of 11,428,399 shares. The company’s 50 day moving average price is $65.24 and its 200 day moving average price is $70.65. Schlumberger N.V. has a 52-week low of $62.56 and a 52-week high of $87.84. The stock has a market capitalization of $93.10 billion, a PE ratio of 529.45 and a beta of 1.03.
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, topping the consensus estimate of $0.30 by $0.05. The business had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.23 EPS. Equities research analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The firm also recently announced 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 of this dividend is Friday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.97%. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
In other news, Director Helge Lund acquired 2,800 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $66.78 per share, for a total transaction of $186,984.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael E. Marks acquired 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were 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 currently owned by company insiders.
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Schlumberger N.V. 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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