Cullen Frost Bankers Inc. raised its stake in shares of Schlumberger NV (NYSE:SLB) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 538,778 shares of the company’s stock after buying an additional 9,439 shares during the period. Schlumberger NV accounts for approximately 1.6% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 9th largest position. Cullen Frost Bankers Inc.’s holdings in Schlumberger NV were worth $42,606,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. New Harbor Financial Group LLC increased its position in Schlumberger NV by 50.0% in the second quarter. New Harbor Financial Group LLC now owns 1,500 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the period. Trust Department MB Financial Bank N A increased its position in Schlumberger NV by 9.6% in the second quarter. Trust Department MB Financial Bank N A now owns 1,753 shares of the company’s stock worth $139,000 after buying an additional 153 shares during the period. North Star Investment Management Corp. increased its position in Schlumberger NV by 23.6% in the second quarter. North Star Investment Management Corp. now owns 1,830 shares of the company’s stock worth $145,000 after buying an additional 350 shares during the period. FCM Investments TX increased its position in Schlumberger NV by 25.0% in the second quarter. FCM Investments TX now owns 2,000 shares of the company’s stock worth $158,000 after buying an additional 400 shares during the period. Finally, Cornerstone Advisors Inc. increased its position in Schlumberger NV by 23.0% in the second quarter. Cornerstone Advisors Inc. now owns 2,084 shares of the company’s stock worth $165,000 after buying an additional 390 shares during the period. Institutional investors own 78.39% of the company’s stock.

Institutional Ownership by Quarter for Schlumberger NV (NYSE:SLB)

Schlumberger NV (NYSE:SLB) traded down 0.31% on Wednesday, reaching $81.44. 4,059,726 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $78.67 and its 200-day moving average is $78.02. Schlumberger NV has a 12 month low of $59.60 and a 12 month high of $83.97. The firm’s market cap is $113.26 billion.

Schlumberger NV (NYSE:SLB) last posted its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.09 billion. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. On average, equities analysts forecast that Schlumberger NV will post $1.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Friday, September 2nd. Schlumberger NV’s dividend payout ratio is -168.07%.

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Schlumberger NV in a research note on Friday, July 22nd. BMO Capital Markets reiterated a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, July 13th. Jefferies Group reiterated a “hold” rating and issued a $85.00 price target (up from $80.00) on shares of Schlumberger NV in a research note on Monday, July 11th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $94.00 price target on shares of Schlumberger NV in a research note on Wednesday, June 15th. Finally, Societe Generale upgraded Schlumberger NV from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $91.00 in a research note on Monday, July 18th. Four investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $90.69.

In other news, Director Tore I. Sandvold sold 2,500 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $78.09, for a total transaction of $195,225.00. Following the completion of the sale, the director now owns 17,750 shares of the company’s stock, valued at $1,386,097.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Guild sold 11,900 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $81.32, for a total transaction of $967,708.00. Following the sale, the insider now directly owns 19,781 shares of the company’s stock, valued at approximately $1,608,590.92. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

About Schlumberger NV

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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