Tore I. Sandvold Sells 5,000 Shares of Schlumberger NV (SLB) Stock
Schlumberger NV (NYSE:SLB) Director Tore I. Sandvold sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $81.00, for a total value of $405,000.00. Following the transaction, the director now directly owns 12,750 shares in the company, valued at approximately $1,032,750. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Schlumberger NV (NYSE:SLB) opened at 80.10 on Friday. The firm’s market cap is $111.44 billion. The stock’s 50 day moving average is $80.09 and its 200-day moving average is $78.72. Schlumberger NV has a one year low of $59.60 and a one year high of $84.30.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Schlumberger NV had a negative net margin of 8.78% and a positive return on equity of 5.06%. Schlumberger NV’s revenue was down 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. On average, equities research analysts expect that Schlumberger NV will post $1.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Wednesday, December 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.50%. Schlumberger NV’s payout ratio is currently -108.70%.
SLB has been the subject of several recent research reports. Seaport Global Securities reiterated a “buy” rating on shares of Schlumberger NV in a research report on Friday, August 19th. Citigroup Inc. upped their target price on shares of Schlumberger NV from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Nomura set a $91.00 target price on shares of Schlumberger NV and gave the company a “buy” rating in a research report on Tuesday, August 16th. Simmons reiterated an “overweight” rating and set a $97.00 target price (up previously from $84.00) on shares of Schlumberger NV in a research report on Monday, July 25th. Finally, Howard Weil upped their target price on shares of Schlumberger NV from $80.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $91.01.
Several hedge funds have recently made changes to their positions in the stock. Babson Capital Management LLC boosted its stake in shares of Schlumberger NV by 166.7% in the first quarter. Babson Capital Management LLC now owns 27,359 shares of the company’s stock worth $2,018,000 after buying an additional 17,100 shares during the last quarter. Eachwin Capital LP purchased a new stake in Schlumberger NV during the first quarter worth $504,000. LPL Financial LLC raised its stake in Schlumberger NV by 1.3% in the first quarter. LPL Financial LLC now owns 217,404 shares of the company’s stock worth $15,797,000 after buying an additional 2,850 shares during the period. Jones Financial Companies Lllp raised its stake in Schlumberger NV by 6.5% in the first quarter. Jones Financial Companies Lllp now owns 82,495 shares of the company’s stock worth $6,084,000 after buying an additional 5,060 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Schlumberger NV during the first quarter worth $2,745,000. Institutional investors own 79.04% 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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