Traders Buy Shares of Schlumberger NV (SLB) on Weakness After Insider Selling
Traders purchased shares of Schlumberger NV (NYSE:SLB) on weakness during trading on Wednesday following insider selling activity. $102.00 million flowed into the stock on the tick-up and $60.38 million flowed out of the stock on the tick-down, for a money net flow of $41.62 million into the stock. Of all stocks tracked, Schlumberger NV had the 7th highest net in-flow for the day. Schlumberger NV traded down ($0.12) for the day and closed at $81.04Specifically, Director Michael E. Marks sold 13,600 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $81.19, for a total value of $1,104,184.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tore I. Sandvold sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $81.00, for a total value of $405,000.00. Following the completion of the sale, the director now owns 12,750 shares of the company’s stock, valued at approximately $1,032,750. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
SLB has been the subject of a number of recent analyst reports. Citigroup Inc. dropped their price objective on Schlumberger NV from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday, September 12th. Guggenheim reiterated a “buy” rating on shares of Schlumberger NV in a report on Wednesday, August 31st. Seaport Global Securities reiterated a “buy” rating on shares of Schlumberger NV in a report on Friday, August 19th. Nomura set a $91.00 price objective on Schlumberger NV and gave the company a “buy” rating in a report on Tuesday, August 16th. Finally, Vetr reiterated a “buy” rating on shares of Schlumberger NV in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Schlumberger NV presently has a consensus rating of “Buy” and an average price target of $91.01.
The company’s market cap is $111.44 billion. The stock has a 50 day moving average price of $80.03 and a 200 day moving average price of $78.71.
Schlumberger NV (NYSE:SLB) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The business earned $7 billion during the quarter, compared to the consensus estimate of $7.24 billion. Schlumberger NV had a positive return on equity of 5.06% and a negative net margin of 8.78%. The company’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. On average, analysts forecast that Schlumberger NV will post $1.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders 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 yield of 2.50%. Schlumberger NV’s dividend payout ratio (DPR) is currently -108.70%.
A number of institutional investors have recently added to or reduced their stakes in SLB. Exxonmobil Investment Management Inc. TX increased its position in shares of Schlumberger NV by 17.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 359,677 shares of the company’s stock worth $28,443,000 after buying an additional 54,547 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Schlumberger NV by 20.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 335,053 shares of the company’s stock worth $26,497,000 after buying an additional 57,346 shares during the last quarter. PGGM Investments increased its position in shares of Schlumberger NV by 37.7% in the second quarter. PGGM Investments now owns 414,592 shares of the company’s stock worth $32,786,000 after buying an additional 113,523 shares during the last quarter. Evercore Wealth Management LLC increased its position in shares of Schlumberger NV by 3.5% in the second quarter. Evercore Wealth Management LLC now owns 477,149 shares of the company’s stock worth $37,734,000 after buying an additional 16,224 shares during the last quarter. Finally, Boston Private Wealth LLC increased its position in shares of Schlumberger NV by 14.2% in the second quarter. Boston Private Wealth LLC now owns 268,468 shares of the company’s stock worth $21,230,000 after buying an additional 33,367 shares during the last quarter. Institutional investors and hedge funds own 79.04% 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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