Sei Investments Co. Reduces Position in Schlumberger N.V. (SLB)

Sei Investments Co. lowered its stake in shares of Schlumberger N.V. (NYSE:SLB) by 30.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 665,717 shares of the oil and gas company’s stock after selling 293,344 shares during the period. Sei Investments Co.’s holdings in Schlumberger N.V. were worth $51,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC increased its stake in shares of Schlumberger N.V. by 29.8% during the first quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 307 shares in the last quarter. American Research & Management Co. increased its stake in shares of Schlumberger N.V. by 8.5% during the first quarter. American Research & Management Co. now owns 1,356 shares of the oil and gas company’s stock worth $106,000 after purchasing an additional 106 shares in the last quarter. MCF Advisors LLC increased its stake in shares of Schlumberger N.V. by 130.3% during the first quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 915 shares in the last quarter. Baystate Wealth Management LLC increased its stake in shares of Schlumberger N.V. by 27.6% during the first quarter. Baystate Wealth Management LLC now owns 2,402 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 520 shares in the last quarter. Finally, Point View Wealth Management Inc. increased its stake in shares of Schlumberger N.V. by 6.6% during 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 in the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

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Schlumberger N.V. (NYSE SLB) traded down 0.68% on Friday, hitting $67.24. 11,428,399 shares of the company were exchanged. Schlumberger N.V. has a 52-week low of $62.56 and a 52-week high of $87.84. The stock has a market cap of $93.10 billion, a PE ratio of 529.45 and a beta of 1.03. The firm has a 50 day moving average of $65.24 and a 200-day moving average of $70.65.

Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. On average, equities analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders 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 yield of 2.97%. Schlumberger N.V.’s payout ratio is 1,538.58%.

Several brokerages recently issued reports on SLB. Bank of America Corporation dropped 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. BidaskClub raised shares of Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. UBS AG set a $90.00 price objective on shares of Schlumberger N.V. and gave the company 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 objective (down previously 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 issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Schlumberger N.V. has an average rating of “Buy” and an average target price of $85.80.

In other news, Director Helge Lund purchased 2,800 shares of the stock in a transaction dated Monday, July 24th. The stock was acquired at an average price of $66.78 per share, for a total transaction of $186,984.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Marks purchased 8,000 shares of the stock in a transaction dated 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 owned by insiders.

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.

Institutional Ownership by Quarter for Schlumberger N.V. (NYSE:SLB)

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