Traders Sell Shares of Schlumberger NV (SLB) on Strength After Insider Selling
Investors sold shares of Schlumberger NV (NYSE:SLB) on strength during trading on Wednesday after an insider sold shares in the company. $86.61 million flowed into the stock on the tick-up and $137.61 million flowed out of the stock on the tick-down, for a money net flow of $51.00 million out of the stock. Of all stocks tracked, Schlumberger NV had the 0th highest net out-flow for the day. Schlumberger NV traded up $1.61 for the day and closed at $80.15Specifically, Director Tore I. Sandvold sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $78.09, for a total transaction of $195,225.00. Following the completion of the transaction, the director now owns 17,750 shares of the company’s stock, valued at $1,386,097.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Simon Ayat sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $83.68, for a total value of $4,184,000.00. Following the transaction, the chief financial officer now directly owns 153,335 shares of the company’s stock, valued at approximately $12,831,072.80. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
SLB has been the subject of several analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Schlumberger NV in a report on Tuesday, July 5th. Guggenheim reaffirmed a “buy” rating on shares of Schlumberger NV in a report on Wednesday, August 31st. Jefferies Group reaffirmed a “hold” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $89.00 target price (down from $90.00) on shares of Schlumberger NV in a report on Thursday, June 23rd. Four investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $90.59.
The stock’s 50-day moving average price is $78.80 and its 200-day moving average price is $77.78. The firm’s market capitalization is $111.46 billion.
Schlumberger NV (NYSE:SLB) last announced its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business earned $7.16 billion during the quarter, compared to analyst estimates of $7.09 billion. Schlumberger NV had a positive return on equity of 6.88% and a negative net margin of 5.64%. Equities analysts predict that Schlumberger NV will post $1.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. Schlumberger NV’s payout ratio is currently -168.07%.
Hedge funds have recently modified their holdings of the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of Schlumberger NV during the first quarter worth $1,410,000. Vicus Capital increased its stake in shares of Schlumberger NV by 2.7% in the first quarter. Vicus Capital now owns 4,826 shares of the company’s stock worth $356,000 after buying an additional 128 shares during the last quarter. Lodestar Investment Counsel LLC IL increased its stake in shares of Schlumberger NV by 8.4% in the first quarter. Lodestar Investment Counsel LLC IL now owns 196,665 shares of the company’s stock worth $14,504,000 after buying an additional 15,241 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Schlumberger NV by 68.5% in the first quarter. Bridges Investment Management Inc. now owns 63,987 shares of the company’s stock worth $5,515,000 after buying an additional 26,015 shares during the last quarter. Finally, Watch Point Trust Co increased its stake in shares of Schlumberger NV by 5.7% in the first quarter. Watch Point Trust Co now owns 30,948 shares of the company’s stock worth $2,282,000 after buying an additional 1,670 shares during the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.
Schlumberger NV Company Profile
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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