SNS Financial Group LLC cut its stake in Schlumberger N.V. (NYSE:SLB) by 38.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,219 shares of the oil and gas company’s stock after selling 2,035 shares during the quarter. SNS Financial Group LLC’s holdings in Schlumberger N.V. were worth $252,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC boosted its position in Schlumberger N.V. by 29.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 307 shares in the last quarter. American Research & Management Co. boosted its holdings in shares of Schlumberger N.V. by 8.5% during the 1st quarter. American Research & Management Co. now owns 1,356 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 106 shares in the last quarter. MCF Advisors LLC grew its position in shares of 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 buying an additional 915 shares during the period. Baystate Wealth Management LLC increased its stake in shares of Schlumberger N.V. by 27.6% in the 1st quarter. Baystate Wealth Management LLC now owns 2,402 shares of the oil and gas company’s stock worth $191,000 after acquiring an additional 520 shares in the last quarter. Finally, Point View Wealth Management Inc. grew its holdings in Schlumberger N.V. by 6.6% in the first quarter. Point View Wealth Management Inc. now owns 2,574 shares of the oil and gas company’s stock worth $201,000 after purchasing an additional 160 shares during the period. 78.90% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on SLB. Jefferies Group LLC set a $80.00 price target on Schlumberger N.V. and gave the company a “buy” rating in a report on Friday, August 25th. BidaskClub downgraded shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company restated an “outperform” rating on shares of Schlumberger N.V. in a report on Monday, July 10th. Barclays PLC cut Schlumberger N.V. from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $98.00 to $73.00 in a research note on Wednesday, June 21st. Finally, Sanford C. Bernstein raised Schlumberger N.V. from a “market perform” rating to an “outperform” rating and dropped their price objective 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $85.80.
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Shares of Schlumberger N.V. (NYSE SLB) opened at 68.80 on Friday. The stock has a market cap of $95.26 billion, a price-to-earnings ratio of 541.73 and a beta of 1.03. The firm’s 50-day moving average price is $65.20 and its 200-day moving average price is $70.30. Schlumberger N.V. has a 12-month low of $62.56 and a 12-month high of $87.84.
Schlumberger N.V. (NYSE:SLB) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, topping the Zacks’ 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 company had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the business earned $0.23 earnings per share. Schlumberger N.V.’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Schlumberger N.V. will post $1.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.91%. Schlumberger N.V.’s dividend payout ratio (DPR) is 1,538.58%.
In related news, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $64.20 per share, with a total value of $513,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Helge Lund purchased 2,800 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was bought at an average cost of $66.78 per share, with a total value of $186,984.00. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.
About Schlumberger N.V.
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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